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Small business failure rates are alarming – or so we are told. Along every avenue of research an enthusiastic entrepreneur will take, their spark, at some point, will be doused by bold assertions: “8 Out of 10 entrepreneurs who start businesses fail within the first 18 months” (www.forbes.com). For anyone in the throes of a […]
Australia is lagging behind in the innovation stakes, ranking 17th for 2 years running in the Global Innovation Index 2015. We are being overtaken by the likes of New Zealand and even smaller markets like Luxembourg amongst a range of criteria, such as business sophistication, infrastructure, human capital and research and creative outputs, amongst others. […]
Growing a business is a special talent, part science, part art and doing it well can be one of the most rewarding life experiences. It can also spell financial disaster from which it is very difficult to recover, when things don’t go well. In this article we discuss 5 common mistakes made by businesses. Cash Flow Cash […]
Many office workers arrive each day and ignore the most pressing and difficult tasks, choosing to begin with lower priority jobs. It’s classic procrastination and it is doing serious harm to your personal productivity. The ability to overcome procrastination and tackle the important actions that have the biggest positive impact in your life or business is […]
Flexibility. To many business owners this may sound like a swear word. The prospect of having employees who are not working in the office or not available during work hours on certain days could appear to be more of a hindrance than a help. But if entrepreneurs and small business owners want to attract and […]
Recognition, reward and opportunity; these are the three key staples in the diet of an engaged and motivated employee. Yet – delivering the right balance of these ‘dietary requirements’ can be one of the biggest challenges businesses face. When they don’t get it right, a disengaged workforce and low morale ensues. With 20 years’ experience […]
As the world becomes smaller and technology more powerful, an ever-increasing number of people are being bitten by the entrepreneurial bug. Against a general background of economic uncertainty, the idea of taking charge and becoming the captain of your own ship is an incredibly appealing one. There is, however, something of a chasm between the […]
So your business has expanded and you are considering employing your first member of staff. However, you are not sure whether to employee a full time, contract or even a casual worker. Before you go ahead start recruiting, here are some important legal issues to consider when hiring staff: Contractor vs Employee In law, there […]
It’s not always what you do but the way you do things in business that secures your place in the market and a loyal customer base. The mistaken belief that you have to reinvent the wheel will only serve to make your experience more overwhelming and limit your options. “They think they have to come […]
Small businesses are becoming increasingly challenged by changes in customer behaviour and the rapidly evolving the digital age; but one message is clear: small businesses need to find more effective, proven and profitable marketing methods. Most small businesses think that they need to be on Facebook as that is what everyone is telling them, however social […]
Back in the brick-and-mortar days all any upstart needed to launch a new venture was a bank loan and a bit of gumption. And while the rules of commerce and capital have remained fundamentally the same, there have been seismic shifts in the technological and marketing landscape. That means businesses have to be more forward […]
Recently, animal rights activists in Australia have been campaigning against the Australian import of Livestock claiming that the industry is not legal and legitimate. They are also claiming the Livestock industry is not meeting animal welfare interests. In February, the livestock industry has responded saying that it is not only legal and legitimate; they are also […]
How much do you attribute success to what you earn and your net worth? I’ve found earning money – even lots of it — can certainly be a by-product of being successful. But wealth is so often not the primary driver for successful people. Many of the world’s big money earners are in fact driven by something […]
Running a business takes a lot of hard work. There are many business owners looking for ways to improve their overall business model. Sometimes, it is important to concentrate on the things not to do in business. Many companies are so pressured for profits that they make huge cuts to their business. Although this works […]
If you’ve ever requested an Uber ride to be later picked up by a 4×4, fuel guzzling behemoth of a vehicle, you’ll understand where this idea came from. Chris King, an avid user of Uber services, realised that there were two potential inhibitors to the flow of new drivers to the platform. While noticing that a […]
Current Insolvency provisions under the Australian Corporations Act impose a duty on Directors not to trade while insolvent, but also not to trade in a manner that will lead it to insolvency. Although this may not appear too onerous an obligation, it can actually be trickier than it seems. Some companies regularly flirt with insolvency, […]
Jessica was employed in the corporate finance sector when she decided that she “wasn’t loving the 9 to 5 grind” – although, as she quips, “it was more like 8 to 8.” After all, if you’re going to pour so many hours into your day job – wouldn’t you want to choose those hours, and […]
Some might argue that ‘business’ is synonymous with risk; and in many ways, it is. But what of it? “If you ever want to achieve the life you’ve always dreamed of, you’ll have to start taking positive, calculated risks. “The benefits of taking risks will enrich your life and make your business or career much […]
It doesn’t matter how great your idea is if your pitch can’t back it up. As a small business, you’re relying on the continued support of your investors to help you grow. Presenting them with an organised list of information and pleading for help probably isn’t enough to get the job done. By creating a […]
Of all the negative influences that can hamper a business from realising its full potential from its employees, ‘otherness’ is perhaps the most subtle – and, in many ways, the most insidious – of all. It’s so difficult for organisations to grapple with, because it is so difficult to pin down in the first instance. […]
