Knowing when to hire staff
Aug28

Knowing when to hire staff

When to hire staff is one of the key decisions any business owner needs to make to go from self employed to a business and unfortunately it is also one of the decisions that can force the demise of a business. So how do you know when is the right time? Ideally you will set yourself some metrics that in your view will tell you when might be the right time to hire.  Examples are: Time – you might feel that you need a certain...

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Who (or what) are you really competing against?
Mar05

Who (or what) are you really competing against?

Small business owners often get this wrong.  There are 4 main competitors any small business has and they are: A direct competitor A substitute DIY Apathy Direct Competitor This one is fairly straight forward and where we often give much of our attention.  If they don’t choose you then your client can elect to buy from a direct competitor which is another business very much like yours that sells the same product or service. Substitute...

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You don’t have a business without this
Feb03

You don’t have a business without this

You don’t have a business if you don’t have a clear value proposition. Businesses exist to solve client’s problems or a specific client problem – this is your value proposition.  How well your business solves that problem for a specific client segment is your competitive advantage (see Business Systems Theory). If your business does not solve a problem for your client then chances are it is not a viable business. ...

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Do you have a business or are you self employed?
Jan25

Do you have a business or are you self employed?

Maybe a better question is, “do you want to have a business or would you rather be self employed? This conversation comes up for us a lot – especially in the forums and around the masterclass.  What is the right answer.  Many people who thought that they had a business, actually realised that they were self employed. Most small businesses in Australia are really people who are self-employed.  And this is ok.  The only...

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6.5 reasons your SME will fail in 2015
Jan20

6.5 reasons your SME will fail in 2015

As a SME business owner here are six and a half sure fire ways to fail in 2015 – fail to deliver your forecasted financials, fail to deliver yourself time and quality of life, fail to deliver the best to your clients or fail to survive at all. Whilst there are more ways to guarantee your business fails in 2015, here are a few of the main ones 1. No  Plan No business plan, no strategic plan, no strategic objectives.  As they say...

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Struggling with your yearly business planning – try the 90 day approach
Dec30

Struggling with your yearly business planning – try the 90 day approach

Tis the season for planning. As many businesses get ready for the next 12 months, 3 years or even 5 years planning sessions we have a suggestion for you – start using a 90 day plan. We have used this in large national companies we have run, in top 200 ASX clients, small start ups and of course we use it in our own consulting business. The key to it’s success is the detail around who is doing what, by when and how much.  Our...

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