Managing
When you’ve worked hard to build your business, you want to ensure that when the time comes to transition out of it, it’s passed on in the way you’d like. For sole traders, the greatest succession threat that must be managed is key man risk. Here’s how to do it.
Introducing a clear policy for the use of BYOD at work is a smart idea to ensure that you and your employees know what is appropriate conduct.
According to the Australian Bureau of Statistics (ABS), the number of light commercial vehicles has increased in the past year accounting for 15.5 percent of all vehicles registered, just behind passenger vehicles. This means more SMBs are looking to leverage their vehicles and optimise operations – to gain a competitive edge and maintain superior customer service.
Call it an insurance misconception, but many business owners have a fixed idea of what they believe is an appropriate amount to pay for insurance. If they paid $2000 last year, they think $2000 will do for this year. But when every other aspect of your business could have changed, why would the same amount still be valid to protect you into the future?
Sometimes inspiration can come from the most unexpected of places, as Franziska Iseli-Hall found on her travels through Mongolia. Here, she shares some of the business lessons she took away from her time with the nomadic people of the region.
Using a sales coach is a proven method of increasing sales and performance as a coach supports staff to reach their goals, or targets, using the GROW model approach. Here’s how to GROW the performance of your sales team.
It’s very easy to forget that you can’t do it all as a business owner, and this stubborn mentality could do you more harm than good in the long-term. If your support network could do with a bit of an upgrade, consider these 5 simple ideas.
For many employees, performance appraisals are associated with ineffective practice and unwanted events. Here are some ideas on how you can improve the quality and outcomes of your performance and development conversations with your people.
Not everyone can be an Olympic champion, but we can all learn from the athletes who are. Success in business is the same as success in sport, and it comes down to setting goals that will pave the way to achieving a personal best. Here’s how to make it happen.
Few leaders understand the negative impact of hollow words and broken promises. Talk is cheap and failure to walk the talk is even cheaper and often a contributing factor to why leaders and managers fail to deliver business results that they stretched for.
The role of an SMB owner is wide-ranging and understated: CEO, general manager, accountant, HR manager, and marketer. Without the luxuries afforded to a larger organisation – such as having a risk management team – small business owners need to self-manage all risk scenarios and shortcomings in-house.
As flexible working becomes less of a privilege and more of an expectation, it’s vital the home office space is set up to allow employees to work as efficiently and effectively as they would in the workplace.
It’s no secret that training your employees gives your organisation an edge. But the impact of the global recession has meant businesses are also looking for ways to improve efficiencies and cut costs – this is where eLearning comes into play.
SMBs are discovering that with the growth of data, comes excess expenses and more work. Globally, information is now costing businesses $1.1 trillion annually and the massive amounts of data that organisations possess should be enabling them to be competitive and efficient, but instead is stifling growth as it’s being poorly managed and protected.
Local SMBs are turning to global sourcing at a growing rate to bring down the costs of doing business, which is blurring the defined borders of international markets. Sourcing internationally isn’t without risks though, which makes it important that businesses learn how to vet suppliers and improve their financial awareness.
If all an employee wants to do is order some paper for the photocopying machine, the process to do this should be easy and intuitive. Unfortunately, most businesses don’t succeed at this. But, if you make your procurement process as simple as Amazon and eBay do, staff won’t bypass your systems – they’ll embrace them.
With the ever increasing fast pace of society, a successful business, particularly an entrepreneurial one, often needs to take business risks to stand out. However, risks often bring with them the potential for liability.
Running a family business means not only managing relationships with family, but also overseeing leadership skills which may differ from typical values held by your kin. Use these 10 lessons to build a solid leadership structure for your family business, to ensure its longevity.
If your business’ business is entirely outside the office, how do you go about doing all the essential tasks necessary for your organisation to flourish? We asked some tradies how they manage all their business essentials in between working on site.
Aussie employers lose around $41 billion in wages each year as a result of unproductive employees, according to research, but the tricks to reducing absenteeism and increasing productivity in your workplace may not be as obvious as you think.
