Business Essentials

Federal Treasurer, Dr Jim Chalmers, has announced a budget surplus, but, in spite of reports, it’s not the first time in 15 years. Plenty of governments over that period have announced budget surpluses, says our regular economics commentator, University of Melbourne Professor Neville Norman, but few have actually delivered one. Is this budget going to worsen inflation? Will interest rate increases...

A perception still exists among many in business that sales is a combat sport. In order to be good at sales, you need a thick skin and be hardwired to win at all costs – qualities that tend to favour men. Well, those stereotypes fall well short of reality, says Sue Barrett, CEO of Barrett Consulting Group. She says women bring specific qualities that differ from traditional sales stereotypes leadi...

What’s the difference between a team that is merely functioning and one that is flourishing? Well, a high-performing team is able to build trust, create accountability, and unify around a common purpose. How do you achieve that? Leadership Coach Bernard Desmidt has a formula to build great teams, which he outlines in his book, ‘Team Better Together: 5 disciplines of high performing teams’. He outl...

Who wants a more profitable and stress-free business? We all do, right? Well, Tony Gattari of ActionCOACH has eight ways in which you can build a business with more value, and which will allow you to free up more of your time. Not only will it be a better business, but a potential buyer will pay top dollar for it. Business Essentials Daily is produced by: SoundCartel soundcartel.com.au +61 3 9882...

Barriers to growth are many - none more so than finding capital. Small businesses in particular struggle to find extra money to fund growth because of a lack of time and resources. Business mentor, John Di Natale offers some interesting alternatives to the traditional means to raising capital. Business Essentials Daily is produced by: SoundCartel soundcartel.com.au +61 3 9882 8333 See omnystudio.c...

Do you know your responsibilities under Australian consumer law? If you think it only applies to certain types of businesses, think again. According to Business Lawyer, Tracey Mylecharane, it’s absolutely vital that you do everything necessary to comply with this law. She says it’s important to look at your documents, systems and processes to ensure both you and your potential customers and client...

The problem with most business proposals is that they’re too focused on selling the business to the potential clients. A better tactic is to focus on the client’s needs and wants. It’s outlined in Alan Weiss’s book, ‘Million Dollar Consulting Proposals’, a well-worn copy of which is in the hands of Nicole Ashby, Founder of Mentoring to Success. Nicole and her clients swear by the million-dollar pr...

An increasing number of business owners are realising that a good workplace culture is important for business health and success. Problem is, they’re not sure what they can do to improve their company culture. To help is culture change specialist, Colin Ellis, who shares a whole range of ideas from his book, ‘Culture Hacks’. Business Essentials Daily is produced by: SoundCartel soundcartel.com.au...

COVID changed the world, and now many businesses find themselves having to undertaking sales work over the web, with videoconferencing replacing face-to-face encounters. Sales and negotiations consultant Julia Ewert says there are some important things to remember when conducting sales meetings over the web. She said that on the web, speed kills, so dedicating more time to asking open questions, a...

Small business owners who’ve not yet gone digital are wasting more than a day in every week. That’s according to Elise Balsillie, Head of Thryv Australia, a small-business software as a service company. She says that although the thought of digitising tasks can be incredibly intimidating for some, even taking the first steps can save time and money. She says the trick is to do it in stages — start...

As a productivity expert, Donna McGeorge has heard all the cliches. For instance, ‘hard work will get you ahead’, you need to be ‘more productive’, and you should aim to do what’s ‘urgent and important’. They’ve become well-worn cliches, as Donna explores what you really should be doing with your workday to feel less overwhelmed. Business Essentials Daily is produced by: SoundCartel soundcartel.co...

Too many companies focus on the products they provide. They tinker with the price, and they highlight the features. The problem is that it’s harder to differentiate your product from everyone else’s. To standout, insists entrepreneur Roy Osing, you need to deliver dazzling, astonishing customer-service, moments that take your buyers’ breath away. Triggering the most valuable marketing of all – rav...

Fleur Heazlewood reckons that our race for more is reducing ourselves too less. Our health and wellbeing is the ‘less’, while the ‘more’ is the endless cycle of being busy. The answer, she says, is to prioritise our own wellbeing; if we do that, everything else will fall into place. Fleur shares some practical tips from her book, ‘Resilience Recipes: Making space for wellbeing that works’. Busines...

With thousands of government and other grants being offered at any one time, applying for funds can be a fast way to expand small businesses, or keep them thriving. However, with thousands of businesses applying for each available grant, the process can seem intimidating. The Founder and CEO of The Launchpad Co, Ruchi Gupta, says the key to success is to know where to look for available grants, an...

A self-entitled employee is someone who thinks they should be paid more, who always wants promotions, the best opportunities, bonuses and take holidays only when it suits them. Often, a self-entitled employee is not particularly good at what they do, they do less work than their peers and add less value. So, how do you handle them? Workplace expert Michelle Gibbings says you need to address their...

In recent years, there has been a real shift in society with calling out bullying and harassment at work. The Fair Work act prohibits sexual harassment in the workplace, and there is now an onus on business leaders to take steps to prevent unwarranted behaviour. Mazars’ HR advisor Yan Flageul joins Greg Halse, Partner at Mazars, to discuss the issue and to share their ideas on what you can do to e...

Since the pandemic, the rate of people recording psychological distress has increased massively. That’s according to Kerry Howard, corporate mental health advisor, and author of, ‘How to heal a workplace culture: Tackle trauma, foster psychological safety and boost happiness at work’. She explains what trauma is and how to help minimise the traumatic impact in the workplace, through understanding...

How we communicate matters very much to business success. It has the potential to influence awareness, understanding, trust, respect and engagement inside the workplace and ultimately staff’s willingness to collaborate. That’s according to Karen Gately, CEO of Corporate Dojo, who outlines her four key priorities to effective communication. Business Essentials Daily is produced by: SoundCartel soun...

The days of sipping gin in business class on your way to a nice interstate hotel are coming to an end. That’s according to sales and negotiation consultant Julia Ewert, who is warning companies to polish their video conferencing sales skills if they don’t want to lose competitive advantage. She says higher costs are making businesses think twice about travel, so salespeople need to dedicate more t...

There are four key questions that a business owner needs to ask themselves about why their customers choose their business. That's according to Dan Williams, who is the Asia Pacific Coach for EOS Worldwide, a global network of business coaches. Dan explains how studying your customers can lead to insights and increased profitability. Business Essentials Daily is produced by: SoundCartel soundcarte...

The federal budget is imminent, and the big question is whether the government will break its promise and increase taxes. Labor must be tempted to use its relative electoral strength at the moment, according to our regular economics commentator, Melbourne University, Economics Professor, Neville Norman. Prof. Norman says it’s likely company tax won’t be touched, but there may be harsher treatment...

Lawyer Tracey Mylecharane feels that we’re in a crisis of knowledge. Countless business owners, she says, are simply not aware of some of the legal issues affecting their own business and their customers. There is a lot of risk that could be avoided by doing due diligence and risk management. She insists that businesses have the right legal documents that are tailored to their circumstances, the r...

A combination of ego, overconfidence and, at times, ignorance, can lead to business blind spots. That’s according to Tristan Wright, a business coach and founder of Evolve to Grow. He says the way to find your own business blind spots is by becoming humbler and speaking directly to every member of your workforce. And he says asking for ideas for improvement and graciously accepting constructive cr...

If you haven’t already, it’s time to automate the repetitive tasks in your business. That’s according to Elise Balsillie, Australian Head of Thryv Small Business Software. She says most Australian businesses are missing out on sales and growth because they spend too much time on tasks that could be automated. And she says that although the thought of automating might be daunting, the costs of not...

We’re living in a quick and changing world; and the rate of uncertainty has made it difficult to plan for the long-term. But plan we must, says an optimistic Nigel Collin. You must find the right balance of planning for the future with the flexibility of shifting course when storms approach. Nigel, who’s weathered many business squalls over the years, offers some guidance for others in business fo...