THE GREATEST CHALLENGES FACING BUSINESS AND HOW TO SOLVE THEM

THE GREATEST CHALLENGES FACING BUSINESS AND HOW TO SOLVE THEM

THE business environment in which we operate is dynamic; with the only constant being change. Adapting to this change is critical if businesses are to remain successful in this highly competitive environment. With this in mind, I will share some of the key challenges that businesses of all sizes are facing.

These are all challenges that ...

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HOW THE 'MAGNIFICENT SEVEN' CAN INCREASE YOUR PRODUCTIVITY

HOW THE 'MAGNIFICENT SEVEN' CAN INCREASE YOUR PRODUCTIVITY

WHEN reviewing the financial performance of a business, the primary measure I look at is return on capital employed (ROCE) - not only a measure of 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 of the time...

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SIX ESSENTIALS FOR CASH FLOW MANAGEMENT

SIX ESSENTIALS FOR CASH FLOW MANAGEMENT

MONITORING cash flow should be your number one priority if you are a business owner; after all, cash is king. Part of this process is having careful control of debtors, for anyone that has experienced times of tight monetary control you know how critical this is in tough times.

Outlined below are key points on how to ensure your cash flo...

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THE NINE-STEP PLAN TO EXIT YOUR BUSINESS

THE NINE-STEP PLAN TO EXIT YOUR BUSINESS

IN business management guru, Stephen Covey's, best-selling book, The Seven Habits of Highly Effective People, beginning with the end in mind was a top habit of his. This got me thinking. Why is it that so many business owners don't have a clear picture of what they want their business to look like when it's 'done'?

Covey...

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FROM THE TANK: GOOD OLD-FASHIONED BUSINESS STILL RELEVANT

FROM THE TANK: GOOD OLD-FASHIONED BUSINESS STILL RELEVANT

BEING involved with Shark Tank and my friendship with startup guru Steve Baxter has inspired me to seriously engage with early stage businesses.

At last count, I'm actively engaged with, invested in or mentoring nine fledgling startups. My interest in this space recently drove me to attend the launch of Innovation North Queensland (INQ) i...

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FROM THE TANK: BRINGING AN IDEA TO LIFE

FROM THE TANK: BRINGING AN IDEA TO LIFE

TAKING an idea from a lightbulb moment to a fully-fledged enterprise may seem overwhelming for the average punter, but serial entrepreneurs get excited by the challenge, and generally follow a similar roadmap on their way to execution success.

Last week it was very exciting to take part in Ralph Ashton's My Big Idea panel, an initiat...

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FROM THE TANK: THE CLOCK IS TICKING, TIME TO ACT

FROM THE TANK: THE CLOCK IS TICKING, TIME TO ACT

SCRAPING back into power by the smallest margins is simply a symptom of bad politics, bad governing and a lack of engagement with the electorate.

Malcolm Turnbull has enjoyed a number of successful careers - law, banking, investing, journalism - and can now add Prime Minister of Australia as his most successful vocation.

He has nothing to ...

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FROM THE TANK: SHOULD YOU EVER WHACK-A-MOLE?

FROM THE TANK: SHOULD YOU EVER WHACK-A-MOLE?

A FAST-PACED game of whack-a-mole often evolves as a business begins to scale up.

Based on my past experience with Greencross (ASX: GXL) and my work these days on a number of companies including Shark Tank startups, it seems the faster you grow, the more chaos occurs.

For the unacquainted, whack-a-mole is the game you sometimes play as lit...

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FROM THE TANK: HOW I PICK TECH COMPANIES

FROM THE TANK: HOW I PICK TECH COMPANIES

JAMIE Pherous, the founder of Corporate Travel Management (market cap $1.4 billion) said it well at the Brisbane Business News breakfast last week: "Business is simple, don't overcomplicate. Learn the rules of the game and play hard". 

Business is a little like a game of rugby, where you pass the ball backwards an...

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BUSINESS: REGISTER ASSETS OR RISK EVERYTHING

BUSINESS: REGISTER ASSETS OR RISK EVERYTHING

DESPITE only taking several minutes online, and costing less than the morning cup of coffee, many businesses are failing to protect their legal rights of ownership.

The Personal Properties Securities Register (PPSR), a single national registry, allows businesses to protect their legal stake in personal property. Personal property takes on man...

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FROM THE TANK: TO IPO OR NOT TO IPO?

FROM THE TANK: TO IPO OR NOT TO IPO?

IT ALWAYS intrigues me that nirvana for entrepreneurs seems to be the big IPO that's supposed to deliver oodles of cash.

An IPO is a complex exercise that includes months of preparation, due diligence and the construction of a conscientious prospectus that states a clear reason for listing and how the funds will be used. Cashing out ...

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FROM THE TANK: DIVING INTO POLITICS

FROM THE TANK: DIVING INTO POLITICS

A DECADE ago I faced an important career decision which could have changed the course of my life. 

Option one, pack our bags and head to Brisbane to head up Greencross as we finalised plans to list on the ASX. Option two, seek endorsement by a political party to run for State or Federal Government in the local Townsville area. Lisa, my w...

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FROM THE TANK: PEOPLE MATTER MOST

FROM THE TANK: PEOPLE MATTER MOST

WHAT am I looking for on Shark Tank? In actual fact, I am looking for 'who' rather than 'what'.

The product or service has to be market relevant but I am more interested in the capability of the entrepreneur. Exceptional entrepreneurs take companies on exceptional journeys and I am looking for people who I want to work wi...

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FROM THE TANK: WHY 'ROLL UPS' BLOW UP

FROM THE TANK: WHY 'ROLL UPS' BLOW UP

'ROLL UPS' of the professional services kind generally fail because the wrong people pull together a gaggle of small businesses for the wrong reasons.

Who are the wrong people to lead an industry aggregation? Private equity houses, founding practitioners having an entrepreneurial seizure, and industry outsiders having a crack (convinc...

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WHAT I'VE LEARNT: 12 MONTHS INTO STARTUP LIFE

WHAT I'VE LEARNT: 12 MONTHS INTO STARTUP LIFE

GO TO university, graduate with good grades and get a job with a reputable company. Retire after 40 years, buy a caravan and travel around Australia.

Sounds boring.

Nonetheless, I started going in that direction and ended up working at several SME design agencies. But all of that changed when I was offered an opportunity to join a s...

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DOES AMAZON IN AUSTRALIA SPELL TROUBLE?

DOES AMAZON IN AUSTRALIA SPELL TROUBLE?

THERE'S been murmurs about Amazon setting up a presence in Australia for years now, but the rumour mill is currently in overdrive. 

Based on the Australian Government's plan to apply the GST to imported goods, it now makes logistical sense for Amazon to maintain a warehouse locally.

This has some Australian retailers co...

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FACEBOOK FEATURES SMALL BUSINESSES NEED TO KNOW

FACEBOOK FEATURES SMALL BUSINESSES NEED TO KNOW

WITH advertising on social media on the rise, Facebook should take top spot in the marketing budget of every business according to SponsoredLinX. In 2016, all of the major social networking sites will introduce new features designed to entice potential advertisers. With so many options available, confused businesses may be wondering where...

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FIVE TIPS FOR FIRST TIME INVESTORS

FIVE TIPS FOR FIRST TIME INVESTORS

THE first few months of the year always brings a wave of investors to the market many of which have decided to invest for the very first time. From an agent's perspective, meeting with these new clients can be exciting as they are always keen to explore the 'rental world' and are ready to soak up the information thrown at them...

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TOUCH COMMERCE SET TO SOAR, BUT WHERE IS THE MANAGER'S RUNWAY?

TOUCH COMMERCE SET TO SOAR, BUT WHERE IS THE MANAGER'S RUNWAY?

SMART-device and mobile consumer purchases are predicted to spiral upwards of 150 per cent worldwide this year in countries such as Australia, according to Deloitte. The financial services firm's annual Technology, Media and Telecommunications (TMT) predictions tilts heavily on the 'how' of purchasing, while managers need to f...

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USING DATA WITHOUT UPSETTING CUSTOMERS

USING DATA WITHOUT UPSETTING CUSTOMERS

SENSITIVITY isn't just something a woman looks for in a man, but something customers so desperately need from marketers. Here's how to stay on point.

Marketers have access to a wealth of information on individual customers, obtaining this data through purchase and web histories, geolocation tools or social media activity.

Ta...

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BUILDING A PIPELINE FOR FEMALE LEADERSHIP

BUILDING A PIPELINE FOR FEMALE LEADERSHIP

MORE must be done by individuals and companies to nurture female leadership the world over, according to LeadershipHQ CEO Sonia McDonald. McDonald believes that the current efforts put in place in various industries by way of quotas and similar methods are not hitting the mark. "We need to do so much more in order to bring about ...

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PROTECTING YOUR BUSINESS FROM FRAUD

PROTECTING YOUR BUSINESS FROM FRAUD

EVERY year in Australia, instances of fraud cost businesses hundreds of thousands of dollars, and these are only the ones we know about.

Fraud doesn't just happen on the scale of fake Tahitian princes and scandals akin to the Queensland Health debacle. Fraud can often occur in much smaller cases which may be minor in isolation, but h...

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SHOULD WE LIKE THE IDEA OF A FACEBOOK 'DISLIKE' BUTTON?

SHOULD WE LIKE THE IDEA OF A FACEBOOK 'DISLIKE' BUTTON?

IF the founder of Australia's most engaged with brand on social media doesn't think a Facebook 'dislike' button is a good idea, then should the rest of the business community?

Brisbane Business News asked a couple of local business owners what they thought about Facebook's latest announcement to roll out a 'dislike'...

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LOOKING TO LEASE? LISTEN CLOSELY

LOOKING TO LEASE? LISTEN CLOSELY

BRISBANE'S commercial leasing market is poised at a unique point in the property cycle, creating seemingly favourable conditions - but there might be a catch. 

High supply and low levels of demand have created extremely favourable conditions for prospective tenants, with many feeling it's almost impossible not to get a good ...

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TIME TO HIRE

TIME TO HIRE

NOW is a better time than any in Queensland to hire an apprentice or trainee, or up-skill employees, if it's your hip pocket you're really worried about. 

The State Government is incentivising business to support on-the-job training and professional development through tax breaks.

Bob Carter, managing director of Improve Group...

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QUEENSLAND, THE STARTUP STATE?

QUEENSLAND, THE STARTUP STATE?

QUEENSLAND has lofty goals for the startup sector, calling for a 100-fold increase in GDP and growth in employment to comprise 20 per cent of all Queensland jobs by 2033. This is reflected federally, where the startup sector is expected to lift GDP from $1.5 billion in 2014 to $109 billion in 2033, and to employ 540,000 Australians in wha...

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CHINA-AUSTRALIA FREE TRADE AGREEMENT WILL SUPPORT GROWTH

CHINA-AUSTRALIA FREE TRADE AGREEMENT WILL SUPPORT GROWTH

THE free trade agreement (FTA) with China provides Australia with a substantial opportunity to grow and diversify our economy over the next decade, according to the Business Council of Australia. President Catherine Livingstone says the agreement will help create jobs in the future and maximise opportunities in global supply chains as the na...

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FIVE WAYS TO SAVE MONEY AT TAX TIME

FIVE WAYS TO SAVE MONEY AT TAX TIME

WITH the end of financial year fast approaching, it's time to start thinking about our finances. But with tax rules changing every year, it can be a little confusing when trying to understand what you can and can't claim. Scott Baker, director of Mobbs Baker Wealth, says a few small considerations now can help save you money and unn...

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POST-2020 TARGET NEEDS TO STRIKE THE RIGHT BALANCE

POST-2020 TARGET NEEDS TO STRIKE THE RIGHT BALANCE

AUSTRALIA has an important role to play in reducing global carbon emissions, but future emissions must be set in a way that is both environmentally and economically responsible, according to the Business Council of Australia (BCA). Chief executive Jennifer Westacott says Australia will need to strike a balance in setting a target that is ...

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THE ETHICS OF OFFSHORING

THE ETHICS OF OFFSHORING

MUCH is written in the media about the 'slave wages' and sweat shops of Asia. This concept is outdated and virtually irrelevant when it comes to skilled 'white collar' roles offshore. When it comes to offshore labour, there are two key ethical concepts that tend to concern both Australian employers and the public generally...

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