Do you share this habit with the world’s most successful business leaders?

geralt / Pixabay What do Warren Buffet, Bill Gates, Mark Cuban, and Arianna Huffington have in common? All of these smart, savvy, successful business leaders share a passion for self-improvement through reading. If you want to improve your skills as a business owner, why not spend a bit of time each day reading books that guide you to greater success? This reading list of 4 inspiring business books will help…  Read more

Top 10 Tips for SMSF’s prior to 30 June

With the superannuation law changes taking effect from 1 July 2017, it’s more important than ever for SMSF trustees to get their affairs in order. 1. Valuations. From 1 July 2017, if you are accessing a retirement pension, you can only have up to $1.6 million net assets in your pension account. The limit applies to the total value of all your pensions and not per superannuation fund. If you also have…  Read more

8 Characteristics of Successful Small Businesses

To finish up our Focus on Small Business Month, we look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies. The eight characteristics are: Owners leading by Example Having a simple business structure Information sharing among employees Staff are carefully chosen Staff commitment and loyalty A unique product or…  Read more

Better Business Tip 3

Learning to Really Listen 1. Prescription without diagnosis is Malpractice. Even through general conversation you can get insights into what a client may actually need and there is opportunity there to add-on or expand on the services you provide to them. 2. The “Titanic” Principle. Beneath the waterline of our customers lie their emotions, just like an iceberg. We need to deal with facts initially, but it’s these hidden emotions…  Read more

Focus on Small Business – Time Management

When things are hectic, most small business owners wish they could find a way to get more than 24 hours into a day. Often, your ‘to-do’ list can get so long that you feel you never get to put as much attention into every task as you would like. It can also mean more time in the office or dealing with work issues after-hours – cutting into your free time…  Read more

Dealing with Cash Flow Problems

  Further to our articles about cost-reduction tactics and forcasting cashflow in your business, below are some more suggestions for unlocking funds without affecting your operational capacity. Keep in mind that you should always seek professional guidance before making changes to your business if you are unsure of the repercussions or potential issues. Hidden sources of finance Most business owners immediately think of the bank or loans when they’re short…  Read more

Better Business Tip

Lowering the Barriers to Doing Business Lets look at some of the simple barriers customers and clients might encounter and solutions to break those barriers down. 1. Payment systems. Not everyone has ready cash. Easy payment systems – EFTPOS, Credit Cards, Cheques, Payment Systems/Arrangements. 2. Distance to the business premises. Some customers are in remote locations. Toll Free numbers for STD/ISD callers. 3. Delivery of bulky goods. Not everyone owns…  Read more

Cost-Reduction Tactics for Small Businesses

Cutting costs can be a quick and easy way to improve the profitability of your business. Introducing cost-control measures can bring immediate savings and ensure you remain profitable in the long term. But it’s important that cost-control measures are carefully managed. Eliminating errant expenses is clearly beneficial, but indiscriminate cost cutting could lead to a drop in quality, or poor morale if staff fear being made redundant or are not…  Read more

Combat Interest Rate Rises in Three Easy Ways

Rising interest on debt can be a curse when running a small business. However, there are some quick and easy policies you can start using to combat interest rate rises. Individually, small steps can add some value to a business, but when combined they can make significant differences. Think of your business like a car in development. Improved aerodynamics, fuel injection and weight loss might separately increase fuel economy, but…  Read more

10 more quick growth tips for small business owners

Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips. 1.  Improve your customer service Businesses with good customer service retain consumers and attract new business through word-of-mouth. Even if you think you’re already providing good service, make it a priority to provide refresher training to frontline staff at least once a year. Alternatively, hold regular meetings to discuss any issues as they arise.…  Read more

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