Small Business
The story of Atlassian is the perfect tech startup fairy tale; two humble guys from Sydney bootstrap a company with a $10,000 credit card and pull off a successful IPO with a market cap of $4.4 billion (USD). Although, contrary to the hopes of many Australian entrepreneurs, the success of Atlassian doesn’t ride on the […]
There are many challenges facing small businesses and, with the New Year well underway, now is a good time to start addressing these head-on in order to build a stronger business. Whether you are a small enterprise just starting out or a mature business looking for additional growth, there is no shortage of challenges that […]
More stress, less time, more responsibility, less support? How do we get back to living a life we love without giving one thing up for another? As a business owner, leader or anyone in corporate knows – the best results come with a clear strategy and the courage to make a plan that’s relevant, realistic […]
There’s a school of thought in business that suggests you should stick to what you know. According to one article, paying heed to this tenet will increase your chances of success as you take benefit from the insight, networks, and ‘rules of thumb’ you’ve spent years developing. You’re more likely to navigate through all the […]
After a year in which the world economy experienced heightened volatility and global growth slowed, there has been a positive shift in opportunities ahead for SME exporters. Trade is still growing, albeit at a slower pace than before the global financial crisis (GFC). After relatively modest growth of 2.6 per cent last year, Efic expects […]
“You can never have too much of a good thing” is a phrase that most, if not all of us, will have heard before. Whether or not this is true is a matter of opinion, but if you’re in business and you’re onto that good thing, then you surely stick with it. After an extended […]
Owning a business is sometimes one of the most rewarding experiences a person can have during their life. However, it is not all easy and most of the business owners complain about not being able to manage their business when they are away from office. Unless and until you have a strong team of dependable, […]
1. Before we say no to new ideas – ‘Consider’ You never know where the best ideas are going to come from, so you need to be open. When Kodak said ‘no’ to the digital camera invented in their very own labs by Steven Sasson in 1975, they said no to the idea that was […]
Yes – the Australian government has recently launched the National Innovation and Science Agenda which aims to cultivate Australia’s newest economic pillar: Technology and Innovation. “Welcome to the Ideas Boom” the homepage boldly and proudly states like a gatekeeper of previously untrodden territory. But are these policy changes (welcome as they are) driving this shift, […]
The transparency brought by the internet has changed the way we do business. Business owners no longer size themselves against the competitor on the adjacent street because, irrespective of locality, all stand side-by-side in a list of online search results; each just a click away from the other. But while this ultra-competitive, virtual environment has […]
Leadership is the ability to direct, create, inspire and influence. It requires flexibility; leaders must roll with the punches, be open to change and continuously look for opportunities to move forward. Most importantly, leadership is about motivation. It is about growing others while they work with you towards a common goal. Great leaders have specific […]
There’s nothing more rewarding than running your own business. However, many small business owners will tell you they find it difficult to take time off. Unless you have 100% confidence in your staff to manage things without you, it can be tempting to always be around, sacrificing your personal time to keep the business running. […]
Just when the Australian dollar is starting to bounce back against the US dollar after dipping last year, the local market is now being hit by the fluctuations in the Chinese economy. This has knock-on effects for Australian businesses. As Australia’s largest trading partner, China’s economic troubles is putting some pressure on the insolvency landscape, […]
Any traveller will appreciate what ‘culture shock’ feels like; that moment when we first set foot in an unfamiliar civilisation and realisation suddenly strikes: Our understanding of social cues, customs, behaviour, and communication have suddenly become defunct. These are our social navigation tools – tools we take for granted – until they’re no longer there […]
Startups and small businesses play a vital role in Australia’s economy. According to the Australian Bureau of Statistics, SMBs make up 96 per cent of all Australian businesses. As a former small business owner and now an executive who works closely with startups and small businesses, it’s been encouraging to see the Government support Australia’s […]
New customers are the lifeblood of every business, and every SME owner faces the constant pressure of not only finding and connecting with new potential customers but also converting them to paying customers. While it will always be a challenge to continue growing your customer base, now is the perfect time to reassess your customer acquisition strategy […]
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 […]
