Business Essentials

Rarely do we know when crisis will strike – a pandemic, war, or a GFC-like event – but if it does happen, the impact on your business and staff could be just as seismic. So how can you prepare for a potential disaster? It helps to have an adaptive mindset, insists Prof Martin Bean, CEO of The Bean Centre, and former Vice Chancellor of RMIT University, during the lockdown days of COVID-19. He has c...

To maintain long-term profitability, you need a strategy that can adapt to new trends and consumer demands. Companies that don’t change will fall behind, says consumer and marketing guru Barry Urquhart. Barry identifies three pillars of business success, and offers the example of a particular Australian hardware company, which is pivoting from hardware to homeware – a subtle, yet powerful realignm...

Many businesses are being held back because their owners either can't, or won't, identify what they are bad at. That's according to Dan Williams, Asia Pacific Business Coach for EOS Worldwide, a global network of business coaches. Dan says it is crucial for business owners to identify what they "suck" at. He says that by slowing down and taking stock of everything you do, it's possible to identify...

Several years ago the corporate world was going crazy over the latest business fad of Blue Ocean Strategy. The book of the same name won a slew of awards and sold millions of copies worldwide. The concept was simple: try to capture "blue oceans" of unexplored new markets. Like many theories, it just doesn’t work in a practical sense. Entrepreneur Roy Osing unpicks the problem of Blue Ocean Strateg...

Workplace culture is fundamental to the success of your business. If your people aren’t happy, the productivity and profits of your business are greatly impacted. Corporate mental health advisor, Kerry Howard, addresses the issue in her book, ‘How to heal a workplace culture: tackle trauma, foster psychological safety and boost happiness at work’. She says it’s up to the business owner or leader t...

Workplace productivity has taken a dive in the last couple of years. In fact, it dropped 3.7% in 2022-23, according to Australia’s Productivity Commission. Productivity in the workplace involves effectively leveraging resources to deliver outcomes. So how do you do that? HR consultant Karen Gately says bosses should set clear expectations, fostering engagement, and focusing on intrinsic motivators...

Traditional sales skills may not be sufficient to overcome the challenges faced by sales teams today. A new approach is needed to end rising disengagement, stress and burnout, and equip sales leaders to lead their teams confidently to success. That’s according to Anna Glynn, who says leaders need to ensure that their teams have the mindset and toolset – not just the skillset – to succeed in sales....

Some of Australia’s best-known and largest companies are some of the worst exemplars of customer service. That’s according to Milton Collins, Principal of The Action Business Coach. He says one of the biggest mistakes is forgetting or ignoring what the customer wants. Milton discusses all this from his book, ‘Delight, Disrupt, Deliver: Grow your business using the power of small surprises’. Busine...

Business owners can be their own worst enemies if they have a fixed mindset. That’s the view of Tristan Wright, a business coach and founder of Evolve to Grow. He says the way we are brought up can give us a blinkered view of the world and our own abilities. Tristan also says self-belief, the development of good habits, thinking laterally and embracing challenges can all be ways to remove obstacle...

Without doubt, there has been an increase of burnout across the board in recent years. That’s according to mindfulness and high-performance coach, Melo Calarco, who says much of it comes from a residual fatigue, or a hangover, from the pandemic. Melo’s book, ‘Beating Burnout Finding Balance’, offers tools to achieve mindfulness. And, he shares inspirational stories of his trekking adventures in re...

What does it take to lead a leadership organisation? Well, former AFL player and two-time Hawthorn Grand Final winner, Dean Anderson explains why in 2022, he took the role of CEO at Leading Teams. Leading Teams is an organisation well known for its leadership and high performance models, that have had a huge impact on businesses across so many industries, including media, education, government, ut...

This is the 1,000th episode of Business Essentials Daily! So we stop, and discuss with Nick Schildberger, Managing Director of SoundCartel, why we started the podcast, how we navigated the pandemic, and reaffirm our focus on providing SMEs the information they need to grow their business, during the rollercoaster economy of the last four years. Nick also takes a look at podcasting as a medium and...

As a business owner, it behoves you to work on those activities that bring in a better return on investment. Don’t do the menial, repetitive stuff, when you could be delegating to someone else in your business, says productivity expert, Les Watson. As a leader, you should be working on your business – bringing the dollars in – not in the business. Les Watson shares his prioritisation system which...

The key to effective sales and marketing is collaboration, according to sales expert and CEO of Barrett Consulting Group, Sue Barrett. Having a customer-centric mindset across the entire organisation will ensure everyone is on the same page. This can be achieved by nurturing the customer at each marketing touchpoint, e.g. emails, social media digital marketing, and direct communication with sales...

How detailed are your employment agreements? If, as lawyer Tracey Mylecharane has observed, it’s a simple one-pager outlining the role, it’s nowhere near good enough. You want to legally protect you and your business from a disgruntled employee by providing a comprehensive document, that defines not only the role and responsibilities, but also items like social media policy, confidentiality, intel...

Business owners often struggle with setting the right price for their products or services due to self-doubt, observes business coach and trainer Jim Cocks. It’s important, he says, that business owners have the confidence in their offerings and be willing to increase prices to reflect their quality and value. Finding the right pricing balance requires consideration of competitors, affordability,...

One of the most effective marketing strategies is tapping into other people’s networks. But, Marketing Specialist and Founder of Leadsology, Tom Poland says, it requires finding partners whose audience aligns with your target market: offering something that people are already looking for is key. Tom explains how to identify and approach potential partners, and the importance of building an email l...

As a business owner, have you let the sales process fall by the wayside? If you’re like many others, perhaps what stops you from selling is fear. Well, according to sales guru Trent Leyshan, you need to regain your mojo. Afterall, he says, sales is the lifeblood of any company. Trent is founder of BOOM! Sales and author of two sales books, 'Outlaw' and 'The Naked Salesman'. He outlines the three k...

Attitudes about diversity and inclusion in the workplace and marketplace have change dramatically over recent decades. Hamid Senni, a veteran Diversity and Inclusion Consultant, shares his two-decade journey witnessing the evolution of the market's approach to diversity. He discusses the paradigm shifts from initially addressing discrimination, to the current focus on belonging. And he emphasizes...

While discussion around mental health is becoming far more open and less taboo, poor mental health costs the Australian economy around $17 billion per year. So, there’s an increasing need for businesses to provide a physically and physiologically safe environment. Liz Ralph is Learning Manager at Lysander, an award-winning consultancy firm that support businesses in leadership development and cult...

A new law has been introduced to address the blurring boundaries between work and personal life. The ‘Right to Disconnect’ bill allows employees to refuse to monitor, read, or respond to contact from their employer outside of working hours, unless the refusal is unreasonable. Ryan Price, Head of Content & Training at Employsure, says business owners should prepare for the new rules by setting...

ChatGPT is the best-known example of a large language model which is transforming the way in which we communicate. It’s now leading to other innovations, including ChatGPT-specific apps that anyone of us now can create to help our own businesses. Futurist Steve Sammartino explains some of the advances in artificial intelligence and how they will impact the way we work and live. Future AI trends, h...

Do you feel as if you have too much on your to-do list, both at work and at home? There are not enough hours in the day, and you’re constantly thinking about the next thing. Mindfulness is becoming a well-known ability to navigating all that chaos. Customer service expert, Jaquie Scammell achieves mindfulness through meditation, which helps her with calmness, clarity and happiness. She explains ho...

What is the economic outlook for 2024 and how will depleted household savings influence the situation? Monash University Economics and Business Statistics Professor Robert Brooks, explains the reasons behind a more cautious approach to consumer spending, which may impact many small businesses. Professor Brooks highlights the government's policy choices, including infrastructure investments and add...

If you ask questions and listen to the answers, you will learn what your customers want. Selling becomes easier and you don’t have to talk so much, says sales expert Colin Pearce. Colin has been training salespeople for many years and has a bag full of tips on how to sell more, easier and faster. Talking too much is a bane for many salespeople, and it's their "overselling" which often puts people...