Business Essentials

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...

Do you know what you really stand for? Perhaps you’re too busy running your business to ask such deep-seated personal questions. But delve deep you must! says John Di Natale, mentor, keynote speaker and author, because these days it’s more important than ever to consider what you represent. It’s all part of personal branding, he says, it’s important for business, and by the way, it’s not just abou...

In 1982, Jim Penman was earning a PhD in history while mowing lawns on the side. It was the beginnings of Jim’s Mowing. Not only did he franchise the business, but has since created multiple franchises, including Jim’s Cleaning, Jim’s Dog Wash and Jim’s Fencing. You could say that he has made history, because today he’s the CEO of Australia’s largest franchise group, Jim’s Group, with more than 50...

Despite consumers being highly discretionary with their spending, they’re still willing to splurge on themselves from time to time. That’s according to Alistair Leathwood, APAC Head of Analytics, Insights and Media at Circana, a leading advisor on the complexities of consumer behaviour. Alistair outlines other consumer trends, including a focus on ‘good value’ for products and services. Artificial...

A. Raptis & Sons is your quintessential migrant-family business success story. In the 1950s, Arthur and Anna Raptis migrated from a Greek fishing village to South Australia, where they opened a fish and chip shop, with a wholesale fish area at the back. Three generations later, Arty Raptis, Arthur Senior’s grandson, is CEO of a multi-million-dollar enterprise with a fleet of boats fishing for...

Has growing your customer base stalled? Are you struggling to attract people to your website? Or maybe you have a tonne of online visitors but they’re just not buying. Whatever the case,  it’s time to check for bottlenecks. Amy Miocevich, marketing guru and Founder of Lumos Marketing, has developed a framework, outlined in her book, ‘The Very Good Marketing Guide: How to Grow Your Business on a Bu...

How healthy, or unwell, is the small business sector? Luke Achterstraat, CEO of the Council of Small Business Organisations Australia (COSBOA), discusses the complexities of economic uncertainty, regulatory changes, and the growing threat of cyber-attacks, and provides valuable perspective on the challenges ahead. He talks about the need to understand the resilience of small businesses amidst a ma...

A great team is one that can collaborate. But collaboration doesn't always happen naturally – it requires active effort and commitment from all team members. Professor Martin Bean discusses his ACL framework – align, collaborate, learn – which provides a roadmap for effective teamwork and decision-making. It’s outlined in his new book, ‘Toolkit for Turbulence: The mindset and methods that leaders...

A manager needs to embody a group of distinct archetypes if they are to reach their full potential, according to recruitment expert and Director of Talent X, Marnie Jones. From the pusher to the mentor, the trainer to the policeman, Marnie Jones explains her seven management archetypes and why embracing them all can lead to a better workplace, retention of staff, and higher profits. Business Essen...

Soon, employees will have the legal right to ignore contact from their employer after hours. The “right to disconnect” law takes effect in August this year for employers other than small business operators. SMEs will have a full year to prepare. Cheryl-Anne Laird, Head of the HR and IR Division at Forvis Mazars, encourages employers to consult with their workforce, review contracts, develop polici...

How often have you sent an email unsure whether the person you sent it to would read it?  Most of us blithely type an email and click ‘send’ hoping for a good result.  Problem is, with so many emails in their overflowing inbox, yours might not ever be opened, let alone acted upon. Productivity and leadership expert Scott Stein, has five mini hacks to help guide the recipient to open and read your...