1300 626 488Management
Tips, advice and solutions for business owners wanting to grow or improve their business
10 Ways to Drive extra Business Cashflow
Cash is critically important for business, with many businesses finding that periods after holidays or short trading months can be extra tough on the cashf front.
Staff leave payments, a short close down, penalty rates for public holidays, slow debtor collections or even extra stock holdings, will all have drained cash from your business.
... read moreRemoving phone barriers for greater Business Success
The benefit of Honest and Timely Performance Appraisals
Critical Components of a Good Job Description
Business Sales Activity in your Prospect Pipeline
Businesses with strong consistent sales, typically are the same ones who have a deep prospect pipeline. Regardless of the type of business or product, those who have the depth of opportunity in their sales pipeline, are also the ones who have less stress and typically better margins.
When you only have one or two prospects in your sales pipeline.....
... read moreBusiness Improvement for the year ahead
Christmas Day has been and gone and New Years is settling in, but when you sit back in the comfy chair – wherever that may be, on the beach, by the water, camping or even just at home……now is the time to take a quick “stock take” of the year that has past.
For those in business, often there is little respite as you.......
... read moreBusiness security - thieves won’t be taking a holiday
With just on a week to Christmas, businesses are generally finalising last minute sales, delivering product orders, sorting through end of month accounts, preparing for New Year sales, confirming the staff leave roster, and even.... finalising the details for a staff Christmas break-up!
What's normally left off the pre-Christmas “to do list" is security - physical and virtual.
... read moreWho is your business communication written for?
Have you ever read a business note, perhaps an email or a letter and thought – huh, what’s that about.....as the tone or content of the note is as if its been written for someone else? Well perhaps it has!
In business I have found that the principle of writing for a “third party” audience, is actually not that uncommon.
... read moreEffective Business Reporting
5 Steps for better Business Financing
With countless business finance products in the market – is can be daunting for some businesses to decide which option to choose. The frequently asked question is “which one should I take?”, so to take some of the pain out of this point – we have provided 5 simple steps for better Business Financing.
To start, it's not so much a case of which product you should take, it's more a question of which one do you need and realistically, what is available.
... read moreBusiness Trends & Patterns – a simple game or is there more to it?
Business trend analysis is a serious analytical technique used in countless different forms of analysis. Yet for most business owners, finding the time to complete a simple Sudoku puzzle is hard enough – let alone undertake any form of formal business review.
If you do have the time to complete a simple Sudoku puzzle, then you also have the ability to transfer some Sudoku disciplines into a more effective business management process.
... read moreWhy you should consider more than just the Easy Option
In a world where speed appears to be everything, often the compromise that is made is to take the generic or easy option. This has become so common in business, that the generic option is often the only option put forward – whereas there is generally many ways to skin a cat.
Now whilst I have no issue with a simple, cheap option when you can get it – the critical point is ensuring that it is the right option.
... read more9 Point Test to evaluate if a new Product Idea is Viable
We have all had them, the “business epiphanies” or “golden ideas” which come to us over the weekend whilst swinging a golf club, doing laps in the pool or just mowing the grass. In the moment….. these new product or service ideas are the perfect combination of simplicity, profitability and marketing brilliance.
By Monday morning these moments of creative thinking have….started to tarnish….
... read moreCommunicating your Close line for Impact and Results
In business, communicating your "close" line for impact is often a crucial factor in success or failure.
The right timing for a marketing advance, to lodge a finance application or even enter a queue......all appear to have timing influencing the outcome.
... read moreMaking Sound Business Decisions
In all businesses, small or large, actions are often taken in the moment – reacting to a symptom rather than making a fully informed decision based on the cause.
Symptom management is a very frequent occurrence, with the management decisions based at a superficial level to arrest what is the perceived cause - which in the bulk of cases is not the true underlying driver.
... read moreWhat information should I use to run my business?
It’s that moment where you are sitting amongst a pile of information – numbers, graphs, returns, production numbers, stock levels, customer surveys…….all with seemingly important information……but what does it all mean......what information should I use to run my business?
... read moreMaximising your Business Time Management
How many times have heard the immortal catch cry, "I don't have enough time" and then....the more scary question - how many times have you been the one to utter it?
The lack of time is really the combination of our perception and tolerance.
... read moreIn Business - Cashflow is King
A well-used line in business - and for good reason, as without cash (or cashflow) in a business, it delivers the same result as a having a body without blood - SUDDEN DEATH!
... read moreBusiness Margins - Improve your Financial "Short Game"
Finance has shown me many things over time, but perhaps one of the more powerful concepts is “profit versus turnover”. For the golfers out there, I liken this to “driving for show VERSUS putting for dough“.
... read moreSucceed with Business Succession
Succession is an inevitable bridge that needs to be crossed for all businesses. For some, the decision is made in a millisecond – whereas for others, it can be an all-consuming dilemma. This article is to help those struggling with this dilemma.
... read moreClear Business Process + Strong Execution = Great Savings
Regardless of whether you are selling burgers to a young family with three tired kids or producing “O” rings for the space program – there is always a cost when your process fails – it’s just the magnitude that varies.
... read moreBusiness - when Good Times go BAD
How much risk are you carrying in your business - do you know......and what are you doing about it?
Someone once explained Operational Risk to me as the classic, 'good times gone bad' situation, where one or more of the things that have made the business successful, suddenly go wrong - and often....very wrong!
... read more10 Banking Essentials
You would not skydive without a parachute, so don't do business without these.
From a banking perspective, every business should have these 10 items in their kit bag to either save, make or protect money - whilst maximizing their banking relationship.
... read moreBusiness Growth Costs....
Often the objective of most businesses is SALES GROWTH, but it comes at a cost..... so the real question is - how growth ready is your business?
A basic principle of business is to generate sales (product or services) to return a profit. The natural flow on from this is to generate more sales to achieve a greater profit - but...what does this take and how prepared is your business for growth?
... read more10 Commandments of Business
Many business owners are time poor and simply don't find the time to read the more comprehensive articles. So if you are looking for a bunch of potent tips for your business - then this short article is for you.
... read moreNew Years Resolution for Business
The start of the new year is traditionally when we pledge resolutions for the New Year ahead - resolutions around how we are going to do things differently...do things better and often…..change a bad habit from last year.
... read moreIs my Business Viable?
This question comes in various forms from concerned business owners – but for me, it’s not so much a case of whether the business is viable - but more of whether the product/service they are selling is viable.
... read moreMarketing for Small Business
Effective marketing is the ultimate answer for increased sales opportunity, with many different marketing methods available, BUT….. a critical aspect which is frequently overlooked in the assessment of marketing effectiveness is the time and cost of the activity.
... read more12 Costly Risks for Business
The majority of risks in business can be predicted and quantified as part of an assessment of the business and how/where it operates. For most businesses however, stopping to undertake this type of assessment is rare - let alone implementing mitigation plans.
... read moreThe Cost of being Tolerant
Business owners tolerate a lot, whether it is poor performing staff, process problems, cash flow, IT and the like. In doing this, the level of stress or pressure on the owner (and in many cases - the business) rises in direct proportion.
... read moreFail to have a Business Plan is Planning to Fail in Business
"Fail to plan is planning to fail" - Winston Churchill.
Even though this well used line receives universal acceptance in conversation....... few businesses "walk the talk".
... read moreBusiness Marketing - "Shark" versus "Anemone"
At the heart of any successful sales program are a heathy number of leads generated by a well formulated marketing program. Equally, where sales or revenue levels are not hitting the mark – then generally there is no effective marketing plan in place.
... read moreSure Fire Business Killers
Operating a business has its challenges due to the many and varied issues drawing on the owners time – people, product, sales, collections, just to name a few. Thus it’s no wonder that many business owners operate “in” rather than “on” their business – which has its dangers.
... read more7 Reasons Why You Should Know Your Cash Cycle
You often hear throw away comments such as “Cash is King” and “Cash is the lifeblood of business” – but what do these really mean?
... read moreThe Financial Shopping List for Business
With countless finance products in the market - which one should I take? This is an FAQ from most businesses at some point, so this simple shopping list should take some pain out of the process.
To start, it's not so much a case of which product you should take, it's more a question of which one do you need and realistically, what is available.
... read moreThe Factor of Time
Time is a precious commodity and one not to be squandered. Often time.....is the critical factor between success and failure.
... read moreThe Business Debt Trap
Debt comes in two forms - Good and Bad. Successful businesses understand the difference and actively manage their position.
Over the years I have seen many businesses struggle (and some crumble) under the burden of debt - with the debt load literally hanging over the business like a tree branch waiting to fall in a strong wind. Using a simple test before taking on debt will assist you in avoiding this risk.
... read moreMore Fees for Business than Service
Ever noticed that some bill accounts are so complex that it takes a master’s degree to work them out? Put simply.....it's an illusion to justify a larger cost and/or mask the value that is being charged.
I call the language used in these accounts "bill speak", so once you understand how to translate it - you will never be fooled again.
... read moreBusiness Decisions - play them forward three hands
Many strategies and decisions are made "in the moment" - considering only todays issues with little thought given to the flow on effects or impacts.
Consider for a moment what this could look like in a practical business context;
... read more5 Avoidable Banking Mistakes for Business
As with most things in life - learn the lessons of those who have gone before you.
Over my years working with businesses and lending money, I have seen a number of simple mistakes that have cost people a lot of money. To save you the cost of these, I have jotted down 5 of the most common mistakes that I have seen, along with simple yet effective suggestions to avoid them.
... read moreMoths in your pocket
Successful businesses have a strong handle on where they spend their money.
There is no point putting in all of the effort in running a business, finding clients and generating sales if at the end of the day - you have nothing left to show for it. Every dollar you spend must deliver tangible value to you and your business. If it doesn't, then it makes no sense to pay it.
... read more