There are all kinds of groups dedicated to networking. Some are highly structured with performance requirements with exclusive membership. Others are free form, come as you please and no charge. Networking can be a total mixed bag. Not every group is right for every kind of business, and trust me, I have tried so bloody many. You will find that some groups may simply not have connections in the market… Read more
Do you have under 19 employees? Then you need to be ready for Single Touch Payroll when it comes into play from 1 July 2019. Single touch what I hear you ask!! By now you may have heard the buzz around Single Touch Payroll. It’s a pretty big deal for any business that has employees. So…what do you need to know and how does it affect you? Keep reading to… Read more
Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already be there—locked up in inventory, assets or your debtors’ book. You can often free up… Read more
Happy New Year. Well, it probably is a Happy New Year to those who are not drowning in admin. Combine that with ATO deadlines and basically my life is hell right now. Absolute hell. Now I know what you are thinking – seriously Stacey, pull yourself together. I mean how much admin can you have? You are a small business, you don’t have an office to look after and it is holidays. Surely you are… Read more
Most small business people would agree that their Profit and Loss report is among the easier – if not the easiest – financial document to understand. I mean we all want to make a profit, but if we don’t the report can still be useful. It’s typically presented in three parts. The top half of the statement reveals the various income streams of the business for the period covered, such… Read more
In today’s fast-paced world, everyone wants to be more productive. Fortunately, there is an ever-increasing number of tools, apps and programs available, that promise to help us achieve our goals. The challenge then becomes how to know not just which tools will live up to their promise but which tools are right for our business? And not to get sucked in to every new app or program that is released… Read more
Self confidence concept. Hands cutting the letter t of written word I can’t by sciccors. Office desk. Pink background top view. Once any big decision in business (or life) is actually made, it is almost like we want the little “business fairy” to tap us on the shoulder and say “everything is going to be ok”. Instead what we get is a million little devils reminding us of all the shit… Read more
If growth is your primary goal, then you need to be analysing how to sell more to your existing customers. Stop trying to find elusive new customers, and focus on what is already right in front of your face. Why? Well it is so much easier to sell to existing customers than to acquire new ones. According to Marketing Metrics, the probability of selling to an existing customer is 60… Read more
Outsourcing work offshore has been happening in the finance industry for over 10 years (if not longer). When I started my business it was not on my radar, I mean when I started my business I didn’t even have any clients. So I didn’t exactly have anything that needed to be outsourced. I had all the time in the world. However, over the past 5 and a half years business has continued… Read more
As a small business owner, you likely want to spend as much time as possible on the tasks that generate sales. Unfortunately, there are many other takss that require your time but aren’t necessarily worth your energy. Maybe a virtual assistant can help. Faced with those tasks, many small business owners either spend their valuable time and energy on actions they hate or put them off until the last minute… Read more
We know we should be implementing mindfulness in our business, but what are you doing about it? Google offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and non-judgmentally.” Research has shown that practicing mindful… Read more
20 years ago IT servers were a case of the bigger the better. These days it is all about getting your business in the cloud. Check out the top 8 advantages for small businesses switching to cloud computing. Cloud computing is fast becoming the norm because storing information and using software hosted on the Internet has many advantages. 1. Save money (hell yeah!) Traditionally, a small business spends money licensing… Read more
While most small businesses spend a great deal of time and effort in finding the right employees, they often fail to capitalise on their newly hired talent by ignoring (or not having) an onboarding process. From long waits for workspace, equipment not being ready, non existent training to an overly negative recitation of ‘don’t do these things or you will be fired,’ employers consistently miss the opportunity to inspire… Read more
Getting through a 1km swim is quite relaxing for me. I am not a natural swimmer, I am not an athlete, I don’t look great in lycra (understatement), I am not fast – but the processes I apply to swimming 20 laps of the local pool can also be used to help you achieve your business goals too. “Tell me more, tell me more, was it love at first sight?”… Read more
Without knowing your break-even point, you can’t make informed business decisions. Period. But it can be quite daunting finding this break even point. Will breakeven be possible, will it be reachable? To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to… Read more
The success of any business, large or small, depends largely on nurturing an efficient and productive workplace. While improving employee productivity should always be a priority, this process is often easier said than done. Below are some of the most effective methods of managing a productive, happy workplace while increasing output. 1. Establish Accountability Productivity depends on every employee understanding that the jobs they do come with specific responsibilities, and… Read more
From Mac computers to make-up, here are six examples of super-strong brands that have nailed their marketing. So what can small business owners like us learn from their marketing success? If you look at their histories and analyse the pivotal moments, you’ll find parallels and pick up tips on how your business can follow in their footsteps and stand on the shoulders of giants. 1. Apple’s call to arms… Read more
If I see another “I have Marie Kondo’d my wardrobe” after the recent release of Marie Kondo’s hit Netflix series I think I will lose my mind. So instead of taking that option (as it would be quite the contradictory reaction to the Marie Kondo rule of “Sparking Joy” phenomenon), if you can’t beat them, join them hey? So if you have the time to organise your activewear drawer and fold all… Read more
Most people are familiar with a job interview: a nervous candidate meets with an employer, answers a series of questions about their experience, strengths, weaknesses and education, and sometimes takes an aptitude test. Employers have used employment interviews to choose between potential candidates since, well since before I even got my first job which is a long time ago now. But there is only so much you can learn about… Read more
Although most entrepreneurs recognise the importance of careful financial management, few want to spend their time dealing with numbers. Unfortunately, not keeping a close eye on your income and expenses can be very costly and stressful for a business owner. Here are five of the most common bookkeeping pitfalls, and some simple tips for getting back on track. Mixing business and personal All too often, entrepreneurs adopt… Read more