Affectionately known as ‘the race that stops a nation’, the annual Melbourne Cup horse race is in effect the race that halts two nations, since our friends across the Tasman in New Zealand tend to tune in as well.
Each year, there’s a potential loss of productivity as employees around Australia peel away from their work – perhaps shaving off a little from Australia’s Gross Domestic Product (GDP). However, this downtime is likely to be offset by a corresponding boost to consumer expenditure, albeit partly from gambling. And anyway, taking the blinkers off, how does GDP capture the merits of a welcome pre-Christmas boost to the national psyche and workforce morale?
If Melbourne Cup Day is not a public holiday for you, and you are contemplating on hosting an event for employees, here are 5 considerations to make sure you get a run for your money.
If you’re going to risk your future and personal prosperity in a business, it makes sense to run the business as efficiently as possible. This will reduce stress, give you more opportunity for leisure, boost profits and increase the value of your business.
1. Plan in advance
Business surprises are usually expensive, so advanced planning is very important in maintaining efficiency. What production capacity will you need? Do you have enough employees or contractors, or too many? Will you run out of cash? Is your sales pipeline running dry? What preventative maintenance do you need to organise for your plant and equipment? Have you ordered sufficient stock or run out of warehouse space? If you aren’t detail oriented, find a mentor or colleague who can help you focus on planning.
When you are trying to run a small team in today’s workplace, a whiteboard and diary just won’t cut it anymore. There are a swathe of tools available to you online — but which to choose? We’ve put six cloud leaders to the test: Trello, Asana, Solve360, Insightly, Scribblar and Podio.
“Ideas are the beginnings of all fortunes,” affirmed success guru Napoleon Hill, and how true this statement has proven to be. Every successful small business must have a coherent menu of underlying ‘big ideas’, which drive the venture forward. With that in mind, below are five big ideas which made a difference to my business. They might work for your small business too.
Whether you love them or hate them, Apple's yearly smartphone updates tend to dominate conversations around the future of mobile devices. Apple proudly touted that it sold more than 10 million iPhone 6 and iPhone 6 Plus devices in its launch weekend.
Those are actual tracked sales in the hands of consumers, and while Apple Australia doesn't break out local figures, the lines to buy iPhones or sign up for contract plans were extensive across the nation. Now that the iPhone 6 and the massive iPhone 6 Plus are here, what do you need to prepare or adapt to as a business.
There’s no excuse now for any business to have an amateurish logo, website or content. Access to experienced freelancers online means polished marketing materials, clever copywriting and proficient programming skills is just an email away. But how do you find the right freelancer for you?
Around 9% of Australia’s labour market is freelance, which means you can tap into a highly skilled workforce to get custom design, coding and writing done at a fraction of the cost of hiring an in-house expert. There are hundreds of online freelance marketplaces, giving access to millions of freelancers all over the world.
Finding the right freelan …
Time is money, and small business owners understand this better than anyone else. They are used to working on a tight budget, and do as much work themselves to reduce costs. This is why it’s important to prioritise tasks which give the most value, delegate when possible, use technology, plan your time better or outsource as much as possible.
One of the most frustrating parts of owning a business is that you can’t guarantee getting paid by your clients on time. When it comes to chasing people for money owed to your business, prevention is far better than cure. Setting up clear rules and systems in the beginning is the best way to prevent any problems down the track.
Cloud accounting is a hot topic right now, and with good reason. Just as online banking revolutionised the way in which we undertake our banking operations (starting in the mid-90s and becoming accepted as mainstream perhaps 10 years later, despite lots of scaremongering around security) cloud accounting is doing the same.
It’s estimated that fewer than 20% of businesses currently use a cloud accounting system, but already studies are showing that those that do are more likely to achieve better results (see the 2013 MYOB Business Monitor for one example of such a study). Here are five reasons why I think cloud accounting can not only he …
If business is looking a little slow and you need some quick sales to keep things heading in the right direction, take action. Here are five things you can do to get the sales sheet to a healthy state.
1. Reconnect with your existing customers
Pick up the phone and ring your customers to see if there is anything you can help them with. They might need a reorder of products, and you could add a special promotion such as free delivery to encourage sales. Often customers will respond: “I’m so glad you called — I was running out of that!” You end up doing them a favour.