Business Essentials

If you can identify the internal barriers holding you back, you may discover untapped potential to grow more revenue. Consultant John Cleary of Cost Management Specialists has a 9-step strategy to increase cash flow – and it doesn’t necessarily mean spending more money in one area or reducing costs in another to get there. John explains how breaking down internal silos will help reveal...

Like maintaining mental and physical health, it takes real effort to keep a business going. And, in a world of disruption, it can be even harder to keep moving and staying ahead of the game. Business Adviser Alan Hargreaves’ book ‘Management Reboot – 52 ideas to make things happen’ helps unpack the good and bad ways to handle the disruption of new players in the market. Ala...

A little doubt can be a good thing, but too much can stop growth and cripple your business. Coach and keynote speaker, Terry Barridge says confidence comes from doing things you’re familiar with, but if you’re taken out of your comfort zone, do you lose all confidence? In a changing business environment, future leaders need to move out of their comfort zone more often and learn to hand...

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 latest book, ‘Culture Hacks’. Business Essentials Daily is produced by: SoundC...

Give your team the tools to do their job and watch your business shine. That’s one of the messages from Diederik Gelderman, a successful veterinarian, who now advises others – not just vets – on how to grow successful businesses via his consulting firm, Turbo Charge Your Practice. He says being nice to people is important for not only business success but in its own right. Busine...

Let’s be honest, the finance side of running a business isn’t for everyone. It takes up valuable time that could otherwise be spent doing what you do best – growing your customer base, developing product, building networks, winning contracts, all the things that create success. The solution? Outsourcing, of course! That’s what Steve Dawson of Grapple decided to do – h...

Focus less on the attributes of your products and services, and more on the way they make your customers feel. So says Michael Solomon, author of 'Consumer Behaviour: Buying, Having and Being'. He explains, with examples, how it’s important to put yourself in the shoes of your customers to gain a thorough understanding of what they really want from you. He also sheds light on how traditional...

Don’t be hung up on making a mistake. It can happen – learn from it and move on. Having the right attitude helps in dealing with the mistake and finding a solution, says business coach and keynote speaker, Terry Barridge. For leaders, he says, it’s important to keep a door open for the team to talk about mistakes and to foster a healthy attitude towards finding solutions. Busines...

As business owners, we often get stuck in the day-to-day activities, and neglect working on the business. Systemising business processes will allow us to break free. That's according to Joel Gerschman, Managing Dire­­ctor of The Change Coach, who’s written a book on escaping the shackles of your business to achieve wealth, freedom and fulfilment. ‘The Mindful Entrepreneur&rsquo...

What steps are needed to be a great leader and can anyone become one? Ricky Nowak, a leadership speaker and facilitator, has spent much of her career pondering those questions and has some practical solutions on the subject of leadership. She details her thoughts in her book, ‘How to make good people great leaders …and reap the reward!’. She outlines what she calls the three Rs...

Workload is the number one cause of workplace stress, beating job security, life balance and people issues, according to a survey by The American Institute of Stress. Online technology hasn't made our workload much easier. In fact, email, phone calls, text messages and impromptu meetings all add up to more work and more stress. So, what can be done? Leadership performance coach, Muffy Churches has...

What’s worse than having people talk about you behind your back? In a business sense, it can be worse if nobody’s talking about you at all. So, if you want your brand spoken about, it’s best that you control what people say. You can do that by telling your own stories. These days more and more businesses are discovering the powerful benefits of brand storytelling. Gabrielle Dolan...

Doing business with other parties is challenging enough, but even more so when you're facing a counterpart with a game plan deliberately set to undermine you. All your best intentions for a win-win in negotiating a deal can often be thrown out the window by dirty tactics from the other side. Joel Gershman, Managing Director of The Change Coach, has some helpful tips on how to counter those tricks...

As a result of COVID-19, the big push these days is to go digital in our marketing and communication with customers. But are there inherent dangers in this? Are we forgetting to how to interact with our customers on a personal level? Veteran marketing expert and founder of Marketing Focus, Barry Urquhart, says digital communications is just a part of a broader mix of building relationships with cu...

Could the ATO have you in its sights? Because if you’re fortunate enough to fall into a certain category of “privately owned or wealthy entities”, the tax office is keen to find out if your tax governance is up to scratch. They’re just checking - in a friendly helpful way – but nonetheless it’s worth being alert to what’s happening. Business Essentials Dai...

Many "new" ideas already exist in some form or other — does yours bring something better to the market? Business adviser and author, Alan Hargreaves, has three rules to test a new idea for success: Is it needed? Does it work? Can it be done better? Alan insists if your idea provides more convenience for consumers, it might be a winner. Reference : ‘Management reboot: 52 ideas to make t...

It’s a fine line: having the perseverance and grit to constantly manage a business, without succumbing to burnout. Andrew May, CEO of StriveStronger, recognises the challenge businesses face and says looking after your physical and psychological wellbeing is paramount to a healthy business. He says you shouldn’t ignore the signs that your body and mind might be suffering.   B...

The fundamentals of selling still exist, but sales people need to fine tune their skills and techniques to get to their prospects earlier in the decision-making process. That's according to sales and business growth advisor, Rob Hartnett. You need to train your sales staff to be better, he says, in order to create new opportunities, capitalise on them and grow your business.   Business Essent...

“ Oh no, I’ve stuffed up the payroll and underpaid my staff!” Heard that one before? Cheryl-Anne Laird of Mazars will tell you how easy and how common it is to make mistakes in payroll. But while the headlines talk about “wage theft”, Cheryl-Anne sees it differently. Because in the vast majority of cases, she says, the mistakes are unintended. Modern awards are not ea...

While the vaccine is being rolled out, snap lockdowns are still on the cards, keeping many businesses in a holding pattern. Financially and mentally, riding the COVID rollercoaster has been a daunting task, not all have made it through, business intact. One that has is Kate Fennessy, social media marketer and Director of Paperboat Digital . As a small business owner and single mum of one, Kate say...

To achieve your potential, you need to schedule regular time away from your business. That’s according to Andrew May, CEO and Founder of StriveStronger. Andrew reflects on the practices of sports men and women who achieve peak performance with quality rest and recuperation. Andrew explains what that means as people attempt to bounce back from a year upended by COVID. Business Essentials Dail...

The COVID vaccination roll-out may come as a huge relief for most people, but it  brings all sorts of curly challenges for employers. For example, can you require staff to have the jab before they front up at work? Can you take disciplinary action against the tricky few who refuse? What if you have anti-vaxxers in your midst, or religious purists? Can they argue the anti-discrimination rules?...

A few years ago, Australian Rules football legend, Rodney Eade, changed his coaching boots for the corporate sector, offering businesses lessons in leadership, especially around the area of change. Rodney's venture is called Facing Change – a timely initiative as the world of business transforms as never before. Like team sport, he's found building a strong culture in the workplace helps bri...

Many small businesses have managed to stay afloat thanks to the government’s JobKeeper program but as JobKeeper is withdrawn, serious cost-cutting may need to be considered to keep the doors open. That might include the grim task of laying off staff. How do employers navigate the process without being dragged to the Fair Work Commission for unfair dismissal? Athena Koelmeyer, Principal and M...

A research and development tax incentive has been a nightmare for many small businesses, who have been told to pay thousands of dollars back to the government. Kate Carnell, Australian Small Business and Family Enterprise Ombudsman, says the Incentive is unsuitable for software development in its current form. She explains the lessons for small businesses owners who are considering applying for an...