Business Essentials: Recent Episodes
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Business Essentials talks to those at the forefront of business success who are willing to share their experience and expertise with you. Each episode provides relevant, reliable and up-to-date topics on how to grow your business. We interview experts on leadership, innovation, sales and marketing, customer service, and more. And we speak with leaders in business who have faced challenges and achieved success themselves, and who provide their own insights on what it takes to be successful.
Whether we like it or not, artificial intelligence, including ChatGPT, will have a transformative impact on the accounting profession. These tools are like employing a junior accountant, says David Smith of Smithink.
Don’t be afraid of it, he insists. Use it, it saves you time, and it’ll provide you extra resources that accounting firms are increasingly finding it hard to access.
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To differentiate your accounting practice from others is the way you service your clients. That’s according to Brad Turville, a coach and consultant to accountants.
Word-of-mouth is a powerful marketing tool, and if you offer an exceptional service, he says, they’ll tell their friends, family and peers.
Brad Turville
https://bradturville.com/
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It’s always hard for businesses to secure finance at any point, but it’s getting increasingly difficult these days as banks tighten their lending requirements. So how can accounting firms help their business clients obtain finance?
It’s something that Peter Angelini and his team take quite seriously. Peter’s the CEO of accounting firm Stannards Accountants and Advisors in Melbourne’s eastern suburbs.
He explains what banks require these days and what Stannards does to help their clients prepare for those applications. It takes time, but done properly many of their clients are able to secure much needed funds.
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Stannards - https://www.stannards.com.au/
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A lot of businesses and accounting firms are happy that 2022 is over. It’s been a brutal few years with Covid, and now many practice owners are looking forward to a more prosperous 2023.
That observation is from advisor to the accounting industry, Mark Holton of Smithink. Mark outlines what accountants can do to have a profitable rest of the year.
More: https://smithink.com/
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With so much compliance work available, many accounting practices don’t have the time or inclination to set up an advisory service. The problem is they could be limiting their potential for higher growth and profits.
That’s according to Emily Splatt of Mindshop, a company which consults practices with providing advisory services. If you’re thinking of implementing advisory services or want to ignite higher performance with your current offering, Emily has eight keys to help you get there.
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One of the biggest challenges for practices around the country right now is the shortage of accountants. A shrinking talent pool is indeed a headache, but it’s also an opportunity to reassess which of your clients provide the best value.
That’s according to Alan FitzGerald, founder of Practice Connections Advisory. Other opportunities for accounting firms include ever-improving cloud technology, particularly artificial intelligence and CRM software which help accountants better service their clients.
Practice Connections Advisory: https://www.practiceconnections.com.au/
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Now's an opportunity to invest your time to understand your employees and develop a way to communicate with them on a regular basis.
That's according to business coach, Paul Matthews, who explains why it's important to have better engagement with staff. He outlines how that's achievable for the entire organisation.
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A strong and consistent brand is much more than your logo – it's what people say and feel about you.
That's according to brand specialist, Darion Teoh of Bless Agency, who has strategies to build a strong brand so that you're constantly in the mind of your target customers. He gives examples of companies that have strong brands and how they've achieved market recognition.
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Behaviour and ability are two overriding qualities of great leadership, which helps to build better performing teams.
That's according to Jake Bridges of Leading Teams who helps business owners nurture their staff's potential. In order to build a culture that works, he says, it's important to agree upon acceptable and unacceptable behaviours amongst the team members.
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How effective really is your website? If you haven't thought about it that much, then you're not taking advantage of one of your best sales tools.
Irwin Hau is not just any website designer. He matches the psychology of consumer behaviour with the magic of website tools to create a first-rate customer experience – all of which translates to sales. For the average business owner, you don't necessarily have to build a website from scratch. Irwin provides some practical tips you can use today to improve your current website.
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Former AFL footballer Wayne Schwass has spent decades dealing with depression and anxiety and so he knows first-hand the debilitating effects it can have on one's personal and professional life.
Today, Wayne's a mental health advocate through his organisation, PukaUp, helping to spread the word and provide support about mental health issues in the workplace. He tells his own story and what can be done to alleviate the difficulties people can have with depression and anxiety.
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Failure isn't something we should avoid at all costs – on the contrary, failure is a powerful force for the journey to success.
Entrepreneur and key-note speaker, Gabe Zichermann, says if you don't feel the fear of failure, then you're not pushing yourself hard enough. In other words, fear often indicates you're on the right track.
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How does motivation play in success and achieving goals? Those are the questions Craig Harper is exploring in his quest to further understand self-development.
As a business coach and motivational speaker, Craig believes it’s emotional and social intelligence that make a great leader. If your role is to coach and mentor, he says you need to understand the people you work with, and that comes first from understanding yourself.
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Sales isn't just about turning up and relying on your instinct or other skills. Each customer is different with his or her own wants and needs, and you need to prepare for each one.
Rachel Bourke of SalesSPACE says salespeople should go through checklists before even stepping into a sales meeting. Rachel's sales meeting preparation pack includes a personal checklist to ensure you look the part and are speaking the language of your prospects.
Rachel Bourke, SalesSPACE 1300 777 223 Support@SalesSPACE.com.au SalesSPACE.com.au Access 'Your Sales Success Kit' at https://salesspace.com.au/your-sales-success-kit/
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There has been a steady rise in interest in listed property trusts – or REITs – since a shakeup in the market following the GFC. Are they worth considering now?
Greg Keady explains the current REIT market as part of a well-diversified investment portfolio. He says, do your research and don’t limit yourself to the Australian market. It's also important to remember, he says, that past performance doesn’t always indicate future performance.
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There are massive opportunities for businesses looking to expand into China, particularly with food, beverage and health products.
Despite the current trade wars, Andrew Kuiler says there’s enormous interest and activity from overseas companies expanding into China. Andrew's The Silk Initiative helps the process. He shares his thoughts on how to make the most of business opportunities in China and how to avoid any big mistakes along the way.
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You don't want to be caught underpaying staff, for all the obvious reasons. But inadvertently overpaying staff can also lead to expensive consequences.
There are so many things to consider when running a business that it makes sense to automate as much as possible. But according to Tracy Angwin of the Australian Payroll Association, employers should beware the ‘set and forget’ approach when it comes to payroll. The rules can be complex and if you’re not thoroughly on top of them, you could end up putting yourself and your staff through a lot of pain.
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Many business functions have completely changed in the last 20 years including marketing, customer experience and supply chains. Yet the sales function has stayed very much the same, resulting in poorer business returns.
Business consultant Steven Norman says that with so much information at the customers' fingertips, it's getting harder to sell. A paradigm shift is needed for many sales teams to achieve more tailored and professional sales skills.
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Holding a pair of car keys in your fist in a dark street might make you feel safer, but won't help you much if the assailant is twice your size. That's what Stephenie Rodriguez thought when she designed the personal security device, WanderSafe.
She’s now taking the handheld beacon and accompanying app to the world, raising a million dollars from investors already and about to raise more to aid its global expansion.
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More Australians are listening to podcasts on a daily basis, and many of the high-quality ones are produced by businesses.
BE's Nick Schildberger highlights the reasons why you should seriously consider podcasting to build audiences and engage more deeply with your customers.
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It's hard to know all the rules around employing casuals, but to protect you from the courts it's important that you do.
Cheryl Disher says it’s easy to mistake a casual with a part-timer or a permanent employee, because the rules are complicated and confusing. But, if a casual worker suddenly decides to report you to the Fair Work Commission, don’t expect much forgiveness from the courts. It happens, she says. And you could be severely penalised.
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Lee Squire bought herself a business – and quickly discovered that running one is a much different beast to managing a team in a company she didn’t own.
The day-to-day stresses, including the constant worry about pay role, all played their part in her increasing reliance on alcohol. She was sinking fast. But she pulled herself up, quit drinking, and today is a much-admired business woman, with a cabinet full of business awards. She shares her ideas and experience on running a successful business.
More essentials business information at: http://businessessentials.com.au
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The millennial generation today makes up a large share of the Australian workforce and it's important to understand how to attract them for future business success.
Luke Faccini says they're more likely to put emphasis on social and environmental issues when choosing a place to work. To win the hearts and minds of the millennial generation, it's worth evaluating how your business is run and whether your brand reflects the values millennials hold dear.
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Business names can sometimes have a use-by date. If you’re thinking about a name change, there are important things to consider.
Brand strategist Luke Faccini says sometimes a name change is unavoidable, when you move into new markets, for example, and your current name won’t work. Luke takes us through some of the biggest mistakes businesses make when changing their names. If you’re going to embark on the process, he says, it’s a big step and you may as well get it right.
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The frontline of business is customer service. That's where we engage and – hopefully – persuade people to buy. But, why do some do some frontline staff fail? It comes down to a lack of empowerment, according to customer service expert, Michael Carrick. When people are empowered, they're much better at helping others. When we take care of our own people, Michael insists, our people will take care of business.
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With the summer holidays well and truly behind us, it's often now that key staff leave for another company. That's according to recruitment specialist Geoff Balmer of Richard Lloyd Recruitment, who explains why they might head out the door and what you can do to prevent that from happening.
richardlloyd.com.au
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When Fiona Whatley and her husband James took over her parents' business, they hadn't fully planned for 10-fold growth in less than a decade.
Springhill Farm makes and sells delicious bite-size treats under its own brand as well as manufacturing food – especially health food – for other brands. Its reputation has grown from lucrative partnerships with well-known companies, including Virgin, Officeworks, Qantas, AccorHotels and Hudsons Coffee. Fiona shares the lessons and challenges of a family business handling fast growth.
springhillfarm.com.au
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What's likely to drive customers away from your door, never to return? Research shows some underlying factors which will eventually mean survival or not for your business.
Neville Christie uncovers the reasons why customers become cynical about who they buy from, and he suggests ways to make sure that cynicism doesn’t apply to you. It's all about innovating and ensuring you're implementing ethical business practices that reflect the behaviour people expect from the businesses they deal with.
ceomentorroundtable.com
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You may not wish to taint a blossoming relationship by introducing lawyers at the courting stage, but a co-ownership agreement is worth its weight in gold.
Andrew Henshaw and Scott McKenzie of Velocity Legal explain what a business "pre-nup" looks like and why you should organise one. And if it’s too late for a pre-nup, it's still a good idea to get an agreement in place in case things go pear-shape.
Business Essentials
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If you want your team to be fully committed to your idea, first it's worth spending time with them to connect and develop a level of trust.
That's according to Simon Dowling, business coach and author of a new book, Work With Me: How to get people to buy into your ideas. You’ll achieve the best results, he insists, if you have a team who’s as enthusiastic and willing as you are about your idea.
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Have you thought about your voice and how others might perceive you based on the way you talk? Like most business people, probably not.
According to voice coach Anouska Taylor, we're so concerned with what we say, that we ignore the power of how we speak, which can influence the perceptions others have of us. Anouska provides examples and techniques for getting the most out of your voice for a business meeting or a presentation.
businessessentials.com.au
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Property's a complicated beast at the best of times, but political upheaval certainly doesn't help. What is the current state of property as an investment option and how should you respond in a market under stress?
To help answer those questions and more is property expert Andrew Fawell, who says a big challenge these days for investors is a tightening up from lenders. Borrowers need to jump through a lot more hoops. And for sellers, he warns, you need to be realistic about what you can expect to get for your property.
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Entrepreneurship is in Liam Ganley's DNA – he brought it with him to Melbourne from his home in Ireland.
Liam now runs three successful pubs and restaurants in one of the world's most competitive and renowned foodie capitals. A city with shortages in hospitality staff – especially chefs – hasn’t stopped Liam expand his range of venues with a focus on craft beer matched with good food.
businessessentials.com.au
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If you and everyone in your industry is slowly sinking to the bottom, how do you get back on top? By taking a radical shift in the way you do business.
That's what Steve Layton, CEO of the Layton Group, has done as other furniture companies across the country discount their way to oblivion. Steve's new Sofa Brands company offers affordable luxury furniture to Australian and Chinese markets. Steve's aim? To break the discounting cycle in Australia and create a sustainable future for his business.
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Kate Save and her business partner were struggling to grow innovative food business, Be Fit Food, until Kate fronted the sharks on TV's Shark Tank. She faced a grilling, but armed with the right answers Kate encouraged one of the sharks, Janine Allis, to invest a substantial amount of money. The TV exposure helped propel the business to greater heights, but the sudden growth invited a new set of challenges.
https://www.befitfood.com.au/
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Rapid advances in technology have delivered us much better access to ideas and human capital than ever before to help grow our businesses. Futurist Steve Sammartino encourages businesses to embrace a collaborative approach to business growth. You don't have to invent new stuff – instead, some of the fastest growing companies are combining existing tools and technology to be "architects of the future".
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Shopping centres and suburban shopping strips are separate beasts when it comes to retail, each with their own challenges for landlords and tenants. And changes are underway. Site selection expert Peter Buckingham has studied the retail sector for decades and he discusses the big changes confronting Australia’s fashion industry as local businesses succumb to cheaper imports, online sales and the invasion of big fashion houses from overseas. As a result our local shopping strips are undergoing big changes, and our shopping centres too are responding to changing market conditions.
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Before you do anything, before you take out an ad or write a blog post, understand what your target market wants and needs. That advice is from marketing consultant Hunter Leonard, who has surveyed thousands of business owners and who shares more than 30 years of marketing experience by listing his seven key principles for marketing success.
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A lot of business owners find it uncomfortable to provide constructive feedback to staff, and when they do it's often ineffective.
Business and leadership coach, Mandy Holloway - who has examined numerous businesses across Australia - says feedback should not be about fixing someone. Instead, she says, it's about holding a mirror up to staff to make them aware of their behaviour.
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Millennials contribute significantly to the Australian workplace, and it behoves your practice to find and keep the key performers. That's according to Simon Dennis, Head of Partnerships at MYOB, who examines the advantages Millennials have by bringing crucial skillsets that you would otherwise have to train. The competition to attract these employees is getting fierce, and Simon outlines what you need to do to attract the better ones and ensure they stay.
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Achieving a turnover of $40 million in the first five years of founding Job Capital, Jo Burston is one of Australia's leading entrepreneurs. Her latest venture, Inspiring Rare Birds, is a global movement to help women grow their businesses. She says there are real bottom-line reasons why businesses benefit from engaging with female business leaders and entrepreneurs. And she provides her own lessons on how she has found success.
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Australian Rules football legend, Rodney Eade, has changed his coaching boots for the corporate sector, offering businesses lessons in leadership, especially around the area of change. Rodney's new venture is called Facing Change, and it's 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 bring the best out of everyone and improves the bottom line.
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Some of the best start-ups are founded by entrepreneurs who have experience and wisdom on their side. A champion for mature age entrepreneurs is business advisor Hunter Leonard who's written a book 'Generation Experience' to help older business people. As older people discard their employment strings, they turn to Hunter for advice on some practical steps in setting up a business.
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Mandy Holloway isn't a fan of your typical performance management appraisals which allow managers to hide behind a system. Instead, she says, managers should talk with their staff more often and in a meaningful way. Mandy outlines the seven types of conversations you should have with your team members on a regular basis to help motivate them and ultimately increase the business's performance.
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An Australian veteran business leader shares the lessons he's learnt from the rough and tumble of five decades of business life. Geoff Slade built Slade Group to Australia's biggest executive search firm through a combination of hard work and developing trusting and meaningful relationships. He's identified many truths along the way - his personal perspectives on what really counts to achieve success in business and in life.
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Throw out the old ideas around consumer behaviour – in the modern world customers don't follow a pattern based on their age, gender, race or economic status. But what does it mean for businesses, and marketers in particular, when traditional market segments no longer apply? American author and acclaimed speaker Michael Solomon explores these issues and tells us why we need to radically re-think the way we market our goods and services, and to whom.
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Importers and exporters are keenly watching the new Transpacific Partnership. Russell Wiese from law firm Hunt & Hunt puts things into perspective for business owners, highlighting the broad benefits of the TPP and setting it against the backdrop of a potential US-China tariff war.
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Becoming king of the digital marketing world takes ambition, determination and a highly focused client offering - and Sabri Suby’s achieving a right-royal success.
Just four years ago, Sabri Suby was working out of a garage with barely enough money to make cold calls. Today his digital marketing agency is winning clients everywhere, with a multi-million dollar turnover and 40 staff. How has he done it? How has he managed such a steep growth path? And what’s he offering clients that thousands of other digital marketers don’t provide?
Business Essentials is produced by BE Media Production
be.com.au
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If merging with another business is part of your succession plan, there’s a lot to consider and you need to plan carefully. Where do you start, what are the risks and how do you find a perfect partner?
Mergers can provide a great solution for business owners looking at the next step for themselves personally and for the business they’ll eventually leave to others. But Nick Miller of Hunt & Hunt Lawyers has some wise advice about the process. Give yourself plenty of time, be aware of the risks - because there are plenty - and prepare, prepare, prepare.
Business Essentials is produced by BE Media Production
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We've all heard a business is only as good as the people in it – so how do you find and keep great people? Recruitment expert, Warren Howard of Howardco, takes us through best hiring practices.
Warren says one of the biggest mistakes businesses can make is not identifying what the business really needs. He advises on what you should consider when advertising for the position; and then how to manage the interview process when you have found a shortlist of candidates.
howardco.com.au
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You've worked hard all your life to build and grow your business. Now you're ready to retire – how do you get the best price for your business?
One challenge is that a business owner is often so integral to the business that it's hard to unravel that relationship at sale time, says Geoff Green, a business exit strategist at GRG Momentum. He explains the difference between what makes a business valuable and what makes a business sellable. And he provides alternatives to selling for owners who want out.
More Information
Geoff Green, GRG Momentum 03 9605 0936 grgmomentum.com.au Special 30% discount for Geoff's book 'The Smart Business Exit'. Use code: BUSINESSESSENTIALS at the following webpage: http://smartbusinessexit.com/the-smart-business-exit-book/
Business Essentials is produced by BE Media Production be.com.au
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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? Muffy Churches has five ‘brain games’ to regain a sense of control over the daily influx of work.
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What are those technologies which are changing the way we work? And how do we leverage those technologies for our own business? We hear from British Fintech expert Matthew Gardiner, who is currently in Australia advising the government, business and the education sector on emerging technologies. One of those disruptors is Blockchain, a tool designed for crypto-currencies, but now used in a whole of range of sectors.
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It's inevitable that some staff will need time off because of illness. But what are the rules around providing it? Cheryl Disher of HR Advice Online takes us through the rules, including whether personal leave — as it’s now called — is allowed to accumulate year after year and what happens if an employee has run out of personal leave.
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What would you do if your customers’ personal information has been lost or stolen? If you don’t have a process for that, now’s the time to start planning. In early 2017, the Australian Senate passed a law requiring the mandatory reporting of data breaches, which comes into effect in February 2018. Lawyer Ryan Solomons of Bespoke explains what the law requires of you should a breach occur, and what processes you should start putting in place now so you don’t fall foul of the law.
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Not only can the cost and time involved in a legal dispute be prohibitive for a lot of business owners, but the stress can be overwhelming. Is there another solution?
Mediation is an option worth considering, says lawyer Alison Shaw of Shaw Mediation Australia. Its benefits, she says, include convenience, privacy, reputational discretion and the ability of each party to influence the outcomes.
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The millennial generation – those aged between 20-35 – is the future of your business, but how do you find them and get them to stay?
Luke Marshall is a recruitment specialist and, as a millennial himself, is especially attuned to their behaviours and desires. Most important is to not treat them as a commodity – show that you care and have their interests at heart. A business with a clear purpose – aside from making money – will succeed in attracting and keeping talented employees.
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Businesses which recognise and understand the differences between the sexes can benefit enormously when selling to them. Amy Fridlund from research agency Kantar TNS says many products are designed and sold for men, alienating potential women buyers. She gives examples of companies like IKEA, which has designed its stores to cater for both feminine and masculine behaviours. As gender issues become prominent and consumers are more aware of gender identity, businesses that don't address their own biases will fall behind.
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Preparation is so important to telephone sales – have a script, write down key objections, but most importantly "master your mindset". That's the advice from Ashleigh Hoult, founder and owner of The PromoDonna. These days a lot of businesses are reluctant to do cold-calling as a business strategy and have lost the art of speaking on the phone. That paves the way for others who understand the benefits of cold-calling, so long as they know the tricks to get to the decision-maker and make a compelling case for your business.
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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, who has written a book on escaping the shackles of your business to achieve wealth, freedom and fulfilment. The Mindful Entrepreneur is all about how to make your business run without you, and he provides examples of entrepreneurs who have done that.
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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 marketing expert and advisory partner of Miller Heiman Group, 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.
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Every week The Fruit Box delivers 600,000 pieces of fruit to 8000 businesses across Australia. We hear from founder Martin Halphen about how a simple idea transformed his humble home-delivery service in the bayside suburbs of Melbourne 17 years ago to 30,000 deliveries to corporates across the country today. These days, The Fruit Box takes its social responsibility seriously and gives back to the community by donating thousands of boxes of fruit, milk and bread to families in need.
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If you're looking to build or maintain your company as a leader in its field, content marketing can amplify your reputation. That's according to Sarah Mitchell of Lush Digital Media, who examines the different kinds of content marketing and what does and doesn't work. Don't expect quick returns – it's a long-term business strategy, Sarah insists, with great rewards for those who persevere.
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Competition is all around us, so why make it even harder for your business by staying offline? A lot of resistance to making the most of digital business tools comes from those who should be leading the charge – that is, the C-suite of top executives in business. John Cleary of Cost Management Specialists warns if you haven't introduced a digital strategy for your products and services, you'll be overrun by your competitors who could offer their products and services faster and more cheaply.
If you're overwhelmed by a tide of daily emails flooding your inbox, you're not alone. But what can you do to take control of your routine? Dermot Crowley has written a practical, step-by-step guide: 'Smart Work – how to boost your activity in 3 easy steps'. It comes down to the very tools we're so familiar without realising their true potential.
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Online fraud and criminal activity have become more sophisticated and they're a constant battle for authorities to police. It's prudent for businesses to protect themselves from cyber crime, says forensic IT specialist David Caldwell, but he warns that many small businesses continue to leave themselves open to attack. He has practical advice on what we can all do to fight cyber crime within our businesses.
If you're not happy with your current debt levels, Scott Hamilton of Arapiles Consulting offers strategies to help you take better control of things and pay off the debt faster. If you can. But what about other areas of financial risk looking ahead, for example the impact of changing interest rates or exchange rates? How about some scenario planning as a way to future-proof your business?
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Fame, fortune and glamour used to sum up high-flying Rod Butterss's life as he built, sold and bought highly successful businesses through the late 1980s and 90s. His stellar business career was followed by a seven-year stint in the spot-light at the AFL, as President of St Kilda Football Club. Rod seemed untouchable.
By 2007 as his football club presidency dramatically ended, his world collapsed - marriage and friendships lost, money and the trappings of wealth all gone. Life spiralled downwards until Rod finally forced himself to own up to the one mighty issue at the heart of his life: his alcoholism.
These days Rod’s back. He hasn’t had a drink in years, he’s back in business, he’s happy and more bravely, he now speaks openly about his experiences as an alcoholic, hopefully, he says, to destigmatise the problems around addiction and to help others including business people who may be heading in the wrong direction.
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Podcasting has helped Australia's largest women's media network to connect strongly with its consumers' "insatiable appetite for content". Mamamia's managing director, Kylie Rogers, explains how the media company has grown rapidly since it created its first podcast in 2014. Today it produces 18 podcasts a week, making the organisation the world’s largest women's podcast network. Kylie explains the unique role podcasting plays in connecting with and engaging audiences.
We're often warned about making assumptions in business and in life, and some of the biggest mistakes are misconceptions concerning Generation Y. The 21-36-year-old group is cashed up and growing up in massive numbers, so it’s important to know what they really think and do. Peter Harris, APAC Managing Director of Vision Critical, examines the habits of this age sector and what you can do to attract their spending dollars.
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It's easy to get left behind if you don't strive to innovate. But what are the practical steps to achieve innovation? With the world in constant flux, innovative companies can appear out of nowhere to disrupt established players. For anyone in business, it's no longer acceptable to keep doing what you've always done. Change agent and innovation strategist Andrew Hutchinson, of Alchimie, has plenty of ideas to help us face the challenges of a changing marketplace. Step One, he says, is to create our own innovative mind-set.
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. Adviser Alan Hargreaves latest 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. Alan discusses what they are and he warns businesses not to be complacent in this fast-changing world.
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As painful as it is, like ripping off a Band-Aid, sometimes you just need to have a chat with a difficult staff member. It's never easy to confront an employee with an ongoing problem, but putting it off leads to worse issues over time. Marita Ryan, of Red Hot Go Enterprises, has some useful tips on how to conduct a critical conversation, which can actually help you build trust and respect from the other party and indeed the whole team.
Attributing the right job statuses to your employees can be complicated! Kerrie Canning, Partner of HR Advice Online, runs through the various job terms, including full time and part time employment, casual, temporary, fixed-term and maternity leave placements. What happens if you’ve attributed the wrong job status or if an employee wants to change? Kerrie answers those questions and more.
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Don't give up - do it regularly and consistently and you'll reap the benefits. Just like an exercise regimen, prospecting for clients can be daunting - particularly the cold-calling side. But prospecting is more than just cold-calling, and if done properly it can be bring real benefits to your business. Ingrid Maynard knows - she's had more than 20 years' experience in sales and she advises businesses on lead generation through her company, The Sales Doctor. Ingrid explains what it takes to be a great prospector.
What's something simple and which we all have every day? It's lunch – and it can be used to help build your network. Antony Gaddie built half a million dollars in his first six months of starting Green Ant Marketing from what he's called the Value Hub method. He simply hosts invitation-only networking lunches for his clients and their contacts. This softly, softly approach is easy, reliable and adds real value to the participants and ultimately to himself.
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How does a busy business person slow down and take back control in a world of constant noise and interruption? Occupational therapist, Angela Lockwood, addresses those issues in her new book "Switch Off: How to find calm in a noisy world". She has espoused every day activities to cut out the clutter and bring focus back into our lives, including breathing exercises, outdoor play, healthy eating, laughing and meditation.
The way we conduct ourselves will definitely be reflected in our business, according to best-selling author, commentator and entrepreneur Andrew Griffiths. He says we should develop our own personal codes to live by, and hold ourselves to a higher level. Andrew suggests to not only ask yourself how you've made your business better each day, but also how you've made yourself better. Start by being 'ridiculously polite', he says, treat everybody with respect, and sincerely look for win-win scenarios.
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Stephen Scott Johnson encourages companies to evolve their business models to be less top-down and more interdependent, and to take conscious responsibility for their brands; in other words, businesses should aim to be "emergent". It’s the title of his new book "Emergent: Ignite Purpose, Transform Culture, Make Change Stick". He provides tools on how to sustain a culture of innovation.
Risk taking should be encouraged if you want to see your business innovate. That's the message from Amantha Imber, CEO of Inventium and author of 'The Innovation Formula'. In the book she highlights fourteen science-based keys to business innovation and she discusses some very practical ideas business leaders can immediately implement.
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Anthea Hammon is CEO and third-generation of award-winning tourist park, Scenic World. She has overseen redevelopment and introduced changes in the way customers experience the park, which has resulted in exponential growth in recent years. Many of the tourists these days are from overseas, particularly from China, thanks to Anthea and her team’s marketing strategies.
From the very beginning, KeepCup’s CEO Abigail Forsyth had visions of selling reusable cups to cafes around the world. Concerned about the mountains of disposable coffee cups generated by cafes everywhere, Abigail's bright idea of encouraging customers to use KeepCup's reusable cups has resulted in worldwide expansion. It hasn't been easy, but good old fashioned selling and trade shows have helped her business grow.
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What steps are needed to be a great leader and can anyone become one? Ricky Nowak 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 rewards. She outlines what she calls the three Rs of leadership, involving great relationships, resilience and respect.
Culture is pivotal for business performance – if you get the culture right, the business will improve. That’s the message from Steve Simpson, creator of the globally acclaimed Unwritten Ground Rules – the perceptions of the way things are done, which constitute the organisation’s culture. He walks us through the three conditions necessary to achieve a stand-out culture.
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With so many markets in Asia to choose from, how do you know what’s right for you? Campbell MacKintosh has had more than 20 years’ experience opening up markets in Asia for companies in the West. Now a business advisor, Campbell examines some of the common misconceptions about doing business in Asia.
China in particular has potential markets that are mind-blowingly enormous. We hear from CT Johnson of Cross Border Management on how we can all take advantage of China if we understand the particular culture and business habits of the Chinese.
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If you can identify the internal barriers holding you back, you may discover untapped potential to grow more revenue, says John Cleary of Cash Management Specialists. He 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 where the opportunities for increased revenue really exist. Then, make sure you understand your clients’ needs and ask some hard questions about your product or service range.
But, speed and safety is your priority in growing your business, why not consider an acquisition? Warren Otter was in the manufacturing game for more than 20 years and found that he grew much more quickly via acquisition after struggling to grow organically. He’s written a book on his experience “Crank it up: the proven way to drive your business to greater wealth” which is full of practical advice on developing an acquisition strategy. These days Warren advises others on how to achieve growth, with his consultancy Otter & Associates.
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Smart phones, tablets and even watches provide online accessibility that wasn’t widely available just 10 years ago. They’re increasingly making life for the consumer easier, but what about the benefits to business? Nicolette Maury, Managing Director of Intuit Australia, details some of the tools businesses can access on-the-go to save themselves time and money.
You don’t have to search far and wide to find solutions to the speed of technological change. Inside most organisations are tech savvy staff who are better positioned to identify the digital tools available to combat change. Business advisor Simon Waller says these "digital champions" should be officially resourced, trained and supported to guide the rest of the company.
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To ensure we continue to grow and keep pace in a changing world, we need to re-examine our old practices. Business advisor, Alan Hargreaves returns to Business Essentials with a new book: Management Reboot: 52 ideas to make things happen. It’s a light-hearted yet sincere examination of new ideas to help invigorate our businesses.
If your business is the same in five years as it is now, there's a good chance it'll be gone. That's according to serial entrepreneur and venture banker Neville Christie, who looks at innovation and how important it is for businesses if they want to survive.
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Entrepreneur Matthew Michalewicz has developed and grown several technology companies in the US and Australia – his last achieved revenue from start-up to $20m in just 7 years. Matthew’s written a book, ‘Life in Half a Second’ about how to achieve success in business and life before it’s too late.
As national patron and wish-granter at Make-A-Wish Australia, author and speaker Robyn Moore has a powerful story she often cites to help re-ignite passion among her many followers. She shares the story with us to show us how to rediscover our passion and confidence, in our work and in all aspects of our lives.
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Third-generation family member and CEO, Angus Kennard is all too aware of the impact of technology on his equipment-hiring firm, Kennards Hire. With almost 170 locations across Australia and New Zealand, any change will have a huge effect on his sizeable workforce. He discusses some of the initiatives the company is taking and why change is a major consideration.
After his competing days were over, former Australian winter Olympian, Peter Forras, refocused his energies into manufacturing high-quality ski gear for athletes in Australia and around the world. His big lessons: choose your suppliers wisely and don’t expect immediate returns.
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If you can explain why your service is better than your competitors, you shouldn’t have to compromise on price. Real Estate agent James Tostevin’s passion for his job and disciplined work ethic helps explain why he is so good at what he does, which translates into phenomenal success. And the lessons he gives to Business Essentials can be applied to any business.
Professional speaker on customer service, Martin Grunstein says the fact that so many Australian businesses get it so wrong on customer service means other businesses have an opportunity – it’s not hard to do it better. And for smaller businesses, it’s much easier to provide great customer service than for larger and cumbersome corporates.
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Monica Meldrum, founder of Whole Kids, has stuck to her principles of matching profit with purpose to become Australia’s leading children’s organic snack producer. Monica explains the inspiration behind Whole Kids and how she’s managed to get her produce into major airlines and on the shelves of Australia’s leading supermarkets.
Another start-up which has carved a space in wine selling is Vinomofo. Co-founder Justin Dry explains how they have fought off the big wine sellers by offering some of the very best wines at great prices – and built a passionate following in the process.
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Entrepreneur Jack Delosa values education so much he dropped out of university. Jack is CEO of The Entourage, Australia’s largest education institution for entrepreneurs and he tells Business Essentials how entrepreneurs live by their own compass.
And we speak with another entrepreneur who has practical tips on how to make more sales online. Robert Coorey has written a book ‘Feed a Starving Crowd’, that’s chock-a-block with useable strategies to make more sales online. He’s shared some of those tips with us …without breaking your budget.
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As digital technology continues to shape the way we all do business – big and small – we speak with futurist Chris Riddell on how to not only compete, but thrive in a world of digital disruption.
And we hear from broadcaster James O’Loghlin on how anyone in business can be more innovative by following the steps in his book, ‘Innovation is a State of Mind’.
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