Small Business
The end of a financial year is just a date in a calendar. We use this date to draw a line in the sand and say to ourselves – this is how my business has performed. We then report that data to the relevant stakeholders and measure our performance, pay our tax, meet our banking covenants […]
An efficient employee referral program can save on recruitment fees and time spent hiring new staff. This can have a significant impact on a business’s bottom line. It can cost up to $20,000 in fees and take hours to hire one staff member through a recruitment firm versus hiring someone via employee referral programs.[1] Employee […]
Intellectual property, such as patents and copyrights can represent a significant portion of a company’s assets – particularly for highly innovative start-ups. Currently, intangible assets are subject to a legislative “effective life” period which is used to calculate their rate of depreciation. However, these existing provisions which mandate their life span are inflexible and often […]
“It’s not the employer who pays the wages. Employers only handle money. It’s the customer who pays the wages.” – Henry Ford You might have established a business under your name, but even if you’re the person with the most authority, you still have another boss to please: the client. The purpose of your sales […]
The end of the financial year can be a stressful time for small businesses, especially if your finances aren’t completely in order. Unfortunately, that’s an all-too-common situation. A recent Xero survey found that three-quarters of Australian small businesses still store their receipts in shoeboxes. With the average Australian business churning through 100 receipts and invoices […]
Marketers have been hearing about big data and the value it brings in terms of customer engagement for several years. If you work in the business-to-consumer (B2C) sector, or more specifically retail and e-commerce, you are likely already harnessing big data in some shape or form. This year, the focus of digital marketers will shift […]
How do you take $10,000 and turn it into $10 million turnover? Best ask Emily McWaters, the tenacious law school dropout who got her hands dirty, shrugged off the naysayers and – with a helping hand from her sisters – became one of Australia’s most successful e-commerce professionals. In 2003, Emily, then 20-years-old, quit […]
With the increasing number of debt financing alternatives available to small and medium sized businesses, should businesses be bypassing the major banks and going to straight to these alternative lenders and platforms? For some businesses the answer will be yes though there are a number of considerations that must be weighed up in deciding who […]
Everybody who launches a small to mid-size business of their own these days hopes to hit the bull’s eye as soon as possible. The problem is there are literally millions of other people aiming at the same target. This produces competition of millions, meaning the risk of failing to stand out is high. Here are […]
Startups that fail to exercise resource parsimony or understand the job their customers want to get done will not survive against larger companies and risk falling afoul of investors, a prominent strategy expert has warned. In Sydney last month to participate in the World Business Forum (25 to 26 May), Rita McGrath, a professor at […]
In today’s fast-paced, ever-changing world of business, a company’s competitive advantage is no longer a ‘sure-thing’, a globally-recognised strategy expert has warned. Speaking at the World Business Forum in Sydney, last month, Rita McGrath, a professor at the Columbia Business School, explained that while sustainable competitive advantage has been a fixation of companies for decades, the […]
Imagine a Monday morning like any other… You walk into the office and make yourself a cup a coffee whilst catching up with your team about the weekend. All of a sudden, you hear the violent sound of a cup smashing and see one of your employees fall to the ground – unconscious, not breathing, with […]
Hey, this is life Jim – and it is just as you know it! Yes, get used to it. As a business owner you’re always going to be taking risks, whether it’s hiring someone new, taking a lease on a new office, or something as simple as taking out advertising space for that new product launch. […]
If you think that all office furniture is equal or that it can’t really be that challenging to buy some office furniture to fill your space, you might just be setting yourself up for an expensive mistake. Suppliers like TableLegsOnline.com are testament to the wide availability of viable options when it comes to updating your […]
Much like you would with potential customers, building relationships with journalists is the best way to achieve positive media attention. We’ve all dealt with telemarketers, but did you end up buying from them? It’s doubtful. The reason is simple, you don’t know them or their product. The telemarketer hasn’t built rapport with you, in turn, […]
For many people, getting your business online consists of starting social media accounts and finding the best ways to keep your website up to date. These can be expensive and time-consuming tasks and may make you wonder whether digital marketing actually generates a return on your investment. But did you know more than 78% of […]
How time flies. It has now been 12 years since my baby and all-consuming obsession, Firefly in Neutral Bay, took shape. More than a decade on, Firefly has not only endured but thrived and, in my humble opinion, it’s one of the best bars and restaurants on Sydney’s North Shore. The bar scene can be a cruel mistress. It […]
With just three weeks until small businesses must become SuperStream compliant, the Australian Tax Office (ATO) has urged those yet to implement the new standard to act now. From 1 July, it will be mandatory for employers with 19 or fewer staff to send all super payments and employee information electronically in a standard format using SuperStream. According to the […]
Whether you’ve had a bumper year or a bummer year there are still things you can do to improve and prepare yourself for the best year ever! End of Financial Year is a great opportunity to take a moment to reflect on how the year has gone and to make some New Year’s Resolutions to get your […]
There’s no going back. From big data to big decisions, artificial intelligence and automation, to explosions in technology and in choice, Australian businesses have a decision to make – disrupt or be disrupted. While the term ‘disruption’ has become commonplace in workplaces across the country, we can’t ignore the fact that where we were yesterday […]
