Small Business
Giving to charity is generally done without an expectation of financial gain, but it can reap surprising benefits in other ways. If your business has the funds and opportunity to sponsor or support a worthwhile not-for-profit cause, here are some great reasons to consider jumping at the chance to do so. Improving PR and […]
The steps prospective startup founders and franchisees must take to hit the ground running, and the common mistakes they should avoid, were revealed to Dynamic Business in a recent Q&A session with Dan Newton, the CEO of Snap Fitness Australia. Since joining Snap Fitness nine months ago, Newton said he has made it his mission to transform the company’s internal processes and […]
Business planning tends to be done in cycles. A cycle may be a week, a month, a quarter or a year. At the end of every cycle, you have the opportunity to compare your business plan to your actual results. The insights you gain from this are used to plan for the next cycle. Smart […]
Let me start by saying that effective marketing is the lifeblood of any successful business, big or small. Having said that, smaller start-up businesses often don’t have a lot of excess cash to splash around so I hate to see their money go to waste on marketing strategies that are unnecessary. Based on what I’ve seen […]
Despite federal election promises of greater support for SMEs, businesses owners remain pessimistic about the Australian economy, with two in five expecting it to worsen in the coming year, the latest MYOB Business Monitor revealed. The bi-annual national survey of over 1,000 SME operators found that 42% believe the economy will decline over the […]
Finding your brand voice and direction is the most important part of establishing a successful business. Iconic branding that has the power to stay always has a few things in common; simplicity, relatability and personality. There are many brands, businesses and even countries we admire for doing this so well; see Nike, Converse, Coca Cola […]
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 […]
