Business Essentials

One of the issues facing struggling sales teams is a lack of consistency. If they have a sound strategy and process in place, then the results can flow from that. Sales expert Sue Barrett says online consumers are inundated with advertising, which makes it tough for any marketing to cut through all the noise. Businesses need to adopt the old-fashioned sales technique of prospecting – that ability...

Investing in your customers’ growth is a smart strategy, according to Trent Innes, Chief Growth Officer at SiteMinder. Trent calls this approach “win, love, grow”, by focusing on continually winning the customer every month, not just at the point of sale. By making your customers’ growth a priority, he says, you create a foundation for mutual prosperity and long-term business success. Business Ess...

Now is the perfect time to reassess your current marketing strategy for the year ahead. Now's the time to reflect on the last six months, make adjustments and revise new targets. Christopher Melotti, Founder and CEO of Melotti Content Media, walks us through his 10 steps to kick-start a mid-year marketing plan. He says it’s important to regularly measure and adjust the marketing plan based on data...

With so many marketing channels to choose from, how do you know which is the right one for you and your business? How do you turn strangers into paying customers? Well, rather than a scatter-gun approach, the best strategy is to choose one marketing channel for 90-days with 100% commitment. Amy Miocevich, Founder of Lumos Marketing says, if it doesn’t work, then move on to something else. If it do...

With employment remaining low at close to 4%, employers still continue to face sharp competition for talent. Added to that is the recent increase in the national minimum wage. Stephen Roebuck, Associate Director of Advice & Consultancy at Employsure, says although the wage increase impacts only a small percentage of workers directly, it affects a significant portion of the workforce through mo...

Living up to the expectations of others can be a heavy weight. From childhood to our working lives and beyond, we’re largely driven by what’s expected of us. But what if those expectations tie us down and prevent us from reaching our dreams? As a keynote speaker, author and mentor, John Di Natale knows first-hand about managing expectations of others and going his own instead. Business Essentials...

Too many superficial fads, like juice diets and fitness gadgets, permeate the self-help market. They do nothing in the long-term for a healthy and happy life. Jim Penman, founder and CEO of Jim’s Group, wants to change the way ordinary Australians approach their lives. He has started a new division with renowned life coach, Sue Thomas. The new franchise is called Jim’s Life Coaching, specifically...

Have you been relying too much on a handful of your most diligent employees, to do everything in the business? You’re leaning on them to complete projects and deliver results daily. Well, you risk leaving them frustrated and burnt out. That’s according to Ishan Galapathy, an expert in operational excellence, mentor and author of ‘Unlock: Engage the Seemingly Disengaged’. The challenge, he says, is...

When it comes to influencing people to change their behaviour, we tend to use logic. That doesn’t work, says behavioural specialist Bri Williams. Humans are emotional creatures: we’re lazy, scared and confused, she insists. By lazy, she means we’re creatures of habit and therefore behaving in a new way takes effort. We’re scared because we don’t want to try something different in case it fails. An...

Sales teams tend to focus a lot on efficiency, for example, how to make cold calls, how to overcome objections, and how to spot a good lead. But by focusing solely on efficiency, they’ve forgotten about the importance of effectiveness . Entrepreneur, Roy Osing says that rather than being comfortable with sub-par performance, sales needs to be transformed into a strategic asset, demonstrating outst...

How often do we hear that there’s never enough time in the day? Often, right? Well, perhaps if those meetings were purpose-driven, you and the team could get more of the important work done. Leadership and productivity expert Scott Stein says it might help to adopt one of four meeting types – that way, the attendees’ time isn’t wasted and you can achieve greater outcomes. Business Essentials Daily...

Despite all the noise and fury in the media about inflation, cost-of-living and other economic problems, the investment landscape is as good as it’s ever been. That’s according to stock expert Elio D’Amato, analyst at Stockopedia Australia & NZ. In terms of the share market, he highlights the strong performance of large companies and the opportunities in sectors such as insurance and technolog...

Payroll tax returns for the 2024 financial year are due very shortly. Steve Baxter of Forvis Mazars advises businesses to start getting prepared now due to complexities around the tax. After all, a return may be required for each state and territory where a business has employees. Plus, he says, in the short period after the end of the financial year, the different classes of employees, wage categ...

It’s a new world of communication for small business, with customers able to make contact on multiple platforms, often in very demanding terms. But according to Elise Balsillie, Head of Thryv small business software, Australia, those businesses who don’t respond in a timely manner are being left behind. She says it’s critical to build channels that ensure frictionless communication and, to embrace...

Part of being able to communicate effectively as a leader is to understand and empathise with your team. Karen Gately, CEO of Corporate Dojo, says emotional intelligence involves self-awareness, making conscious choices about emotions and actions, and understanding and influencing the emotions of others. She says high emotional intelligence can improve team collaboration and responses to change. T...

Consumers are spoilt for choice. Confronted with so many shopping options every day, people perform shortcuts when making purchasing decisions. But building brand value is more important than short-term sales results. Troy McKinna, Co-Founder of Agents of Spring, identifies four keys to building brand value: find your consumers' most valuable problem; design a clear solution that delivers results;...

It’s a staggering statistic: one in seven cyber security attacks is made on small businesses. And according to the CEO of the Small Business Association of Australia, Anne Nalder, the situation is likely to worsen. With an average cost per attack of $36,000, it is prudent for small business owners to shore up their security, but perhaps more importantly, train their staff. Anne emphasises the nece...

Poor cashflow management can damage relationships with customers and suppliers, inhibit business growth, and increase stress, potentially leading to poor decision-making and low employee morale. That’s according to Werner Botha, Senior Manager at Forvis Mazars. Some of the cash flow warning signs he says, include over-reliance on major customers, overdue invoices, and excessive short-term debt. We...

Lawyer Tracey Mylecharane has had plenty of distressed business owners come to her with cease-and-desist letters, following a new product or service launch that’s infringed on existing registered trademarks. Tracey insists, that before launching a new offer, ensure that the words aren’t already registered by a competitor. She explains how to do your due diligence and the consequences if you do inf...

New businesses that survey potential customers, and established businesses that establish a customer blueprint, are setting themselves up to become a customer-centric success. That’s according to Ruchi Gupta, Founder and CEO of The Launchpad Co.. She says that too many small businesses fail to do their due diligence and can rapidly improve their prospects by increasing the value of their customer...

With just seconds to grab people’s attention and make an impact, intrigue marketing is one way business owners can cut through the daily advertising clutter. James Smith, CEO of digital agency, Smith Brothers Media, says any business can do this, just think creatively, be brave and give something new a go! Business Essentials Daily is produced by: SoundCartel soundcartel.com.au +61 3 9882 8333 See...

Have you noticed an increasing sense of entitlement among your employees? You wouldn’t be the only one, according to Roxanne Calder, Managing Director of recruitment agency, EST10, who says there are more entitled employees today than in previous generations, largely a result of societal trends that are possibly over encouraging individuality. And while not everyone is entitled, with many deservin...

It takes resilience and consistency  for a business to survive and grow, according to Michael Fingland, CEO of Vantage Performance. Michael and his team have spent decades turning around struggling businesses, culminating in an eight-pillar strategy to ensure they can continue to function and thrive. Michael explains each pillar in detail, with a particular emphasis on discipline, accountability,...

There are four ways small businesses can benefit from a hit of growth capital. Anthony Healy, CEO and MD of the Australian Business Growth Fund, says swapping a minority share of your business for a large injection of capital can help SMEs accelerate their growth, open new business opportunities, free up resources and provide additional expertise and access to new networks. Business Essentials Dai...

Technology changes quickly, so what is in store for small businesses in the future? The CEO of the Council of Small Business Organisations Australia (COSBOA), Luke Achterstraat, says there are vast opportunities and challenges awaiting small businesses in the realms of artificial intelligence and cybersecurity. From leveraging AI for streamlined operations and boosting productivity to fortifying c...