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With all of the talk about Asia and the hysteria around Donald Trump‘s presidency, it is easy to forget that the United States is still the largest economy in the world with GDP of over US$18 trillion and by far the largest consumer market with retail sales of over US$5 trillion. While its size means the […]
Commonly defined as enterprises employing nine or fewer people, “micro-businesses” are big players on the business stage. In 2013, they accounted for 14% of all businesses newly opened in Australia, but only 9% of businesses shutting down[1]. Any new business will face its share of growing pains. When you’re trying to grow your business without […]
By the time you have read the title of this article there is a 50/50 chance that you have got something else on your mind as well. In 2010, Harvard psychologists carried out a study that tracked people’s activities, their thoughts and their feelings at random intervals. They found that just under 50% of the […]
Have you ever been at a ‘team away’ day and, when faced with the choice of abseiling down a vertical cliff (supported by your team), raft building (again with said team members), or an archery challenge (at that point perhaps hoping not to be chosen as the target), struggled to recall why it had ever seemed […]
With more Australians turning to ratings and review sites to help them make purchase decisions, it is imperative that businesses have a strategy for responding to negative reviews. Why bad reviews aren’t so bad A negative review isn’t necessarily a bad thing, as it can also provide businesses with an opportunity to develop the business […]
Yes, you read that right. It’s time to ditch that 30-page document and put it in the bin where it belongs. Professionals agree that writing a formal business plan is not the best strategy, most especially for SMEs that have limited time and resources. Not having a business plan doesn’t mean you’re going to spend […]
Have you started 2017 struggling to get your staff involved in process improvement initiatives? If so, you’re not alone. Businesses in virtually every industry wrestle with how to engage teams in efforts to improve business processes and then, once they do get them involved, how to sustain the momentum. The good news is that employees […]
Innovation: it’s a buzzword commonly heard in the realm of business, and for good reason. Entrepreneurs are encouraged by their mentors to innovate; the word appears in slogans and taglines across the web. So just what is innovation, and why is it so critical to the success of your small business? What is innovation? Most […]
Countless studies have shown that happiness leads to more success, increased productivity and overall workplace wellbeing in companies. However most workplaces are focused on success rather than happiness. The approach to creating a successful company needs to be flipped on its head to be successful. Instead of purely focusing on success and reaching targets, we […]
When reviewing the financial performance of a business, the primary measure I look at is Return on Capital Employed (ROCE). ROCE not only measures the profitability of a business but also the efficiency with which its capital is employed. In Laymen’s terms, ROCE works out how much bang for your buck you’re getting out […]
As a CEO, you’ll have to know a lot about the critical nature in supply chain management and how it affects the bottom line of a company. There are a lot of ways to make it better and increase the connection between CEO duties and supply chain management. Many companies over the past decades have […]
Saying ‘no’ doesn’t come naturally to many, particularly when you have your own business. It’s often tempting to say ‘yes’ to every opportunity that comes your way, in an attempt to drive growth. But knowing when and what to say ‘no’ to, and how to be tactful about it, can actually make you a better […]
Improvements in workplace and personal technology are enabling SMEs to operate with a more mobile workforce. According to IDC, in 2015, more than one third (37%) of the world’s workforce were considered “mobile” or of no fixed location. By 2020, IDC predicts a staggering 73% of the same workforce will be mobile. Most people today […]
Let’s not be cliché and use the line, “clothes make the man.” Choosing what to wear in a presentation wasn’t always this hard. Previously, a suit and tie were enough – coat optional. But with so many styles and preferences nowadays, striking the perfect balance to please an audience is proving to be more and more […]
As Alec Baldwin famously said in the film Glengarry Glen Ross: ‘Always Be Closing’. And there’s no shortage of people looking to become closers. Amazon has 439,752 book results when you search the word “sales”. From titles like “The Psychology of Selling” to “Secrets of a Master Closer”, all offering advice on how, when, and […]
You’ve got a business logo and you’ve got an amazing company name that you’re trying to gain recognition for. You may already be promoting your business in various ways, including print ads, business cards or store signage, however, there are a number of other fun and easy ways that you can build up your brand […]
South Australia has recently changed the law for minor civil claims reducing the limit from $25,000 to $12,000. The reduction in the monetary limit for minor civil claims will come into effect on 1 August 2016 however proceedings already underway in the Magistrates Court as of this date will be unaffected. Prior to 2013, the […]
Trade shows have an important role for many companies’ marketing strategies. They are places to show off your new products and services, meet clients and customers, and mix with other industry experts. But a successful trade show requires careful preparation on your part. So what should you be doing to prepare properly? Here are a […]
Home-grown Business Management Systems (BMS) provider, Holocentric has outbid larger international companies for tenders in Australia by harnessing the strengths of being a smaller operation and eliminating, where possible, the need to go head-to-head with better-resourced competitors, according to its CEO, Bruce Nixon. The tech company, which has offices in Sydney and Canberra, has worked […]
For small and medium sized businesses, the makeup of your team can have a significant impact on overall performance. It comes down to not just having the right blend of skills but also the cohesiveness of the team and their engagement with the work that will give your business a competitive advantage. But what happens […]
