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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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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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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WAGE REVIEW DECISION TO ADVERSELY AFFECT RETAILERS AND EMPLOYMENT

WAGE REVIEW DECISION TO ADVERSELY AFFECT RETAILERS AND EMPLOYMENT

THE Australian Retailers Association (ARA) is concerned for the future of the retail industry after the Fair Work Commission awarded an unmanageable $15.80 a week increase in the minimum wage. From 1 July 2016, the national minimum wage will increase to $672.70 a week, or $17.70 per hour.  For retailers it will see the rate for shop ...

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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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WHAT I'VE LEARNT: AS FOUNDER OF A RAPIDLY SCALING BUSINESS

WHAT I'VE LEARNT: AS FOUNDER OF A RAPIDLY SCALING BUSINESS

BORN in Australia to migrant parents from Hong Kong and China, they instilled in me the principles of discipline and hard work from a young age.

I now look back fondly on the weekly piano, guitar, cello and saxophone lessons they had me undertake. I wasn't terribly talented - I could probably bust out chopsticks at a stretch - but it...

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ASIALINK BUSINESS LAUDS TPP AGREEMENT

ASIALINK BUSINESS LAUDS TPP AGREEMENT

THE conclusion of the landmark Trans-Pacific Partnership Agreement (TPP), resolved in the early hours of Monday morning, has been welcomed by Asialink Business, Australia's National Centre for Asia Capability. Following eight years of negotiations, 12 Pacific-rim nations including Australia agreed upon the free trade agreement, which ...

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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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