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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STRAIGHT TALK: HOW CRAIG TREASURE BUILT SUCCESS AT VILLA WORLD

STRAIGHT TALK: HOW CRAIG TREASURE BUILT SUCCESS AT VILLA WORLD

SINCE taking charge of Villa World Group (ASX:VLW) four years ago, managing director and CEO Craig Treasure has led the company through its most successful period.

In that time, the Gold Coast-based affordable housing builder and developer has grown its market capitalisation from $50 million to $220 million by building annual sales from 400 p...

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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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BREXIT: KEEP A COOL HEAD IN VOLATILE MARKETS

BREXIT: KEEP A COOL HEAD IN VOLATILE MARKETS

THE British withdrawal from the European Union will prove to be another crisis of confidence, according to Morgans. The stockbroker has likened Brexit to numerous Greek sovereign debt crises, which shocked the markets at the time but regained stability as the issues were managed. Morgans chief economist Michael Knox shares his perspec...

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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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FIVE EOFY THINGS SMALL BUSINESS NEEDS TO KNOW

FIVE EOFY THINGS SMALL BUSINESS NEEDS TO KNOW

AS the end of financial year approaches for small to medium enterprises (SMEs), owners can be forgiven for never wanting to pick up a calculator again, with stocktakes, tax declarations and payroll summaries all requiring completion before June 30. Accounting fatigue is real, but the temptation to scrimp on the detail can harm your busine...

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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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EXECUTIVE ESCAPE AT HILTON SYDNEY

EXECUTIVE ESCAPE AT HILTON SYDNEY

IT'S a name synonymous with luxury, but it isn't until you actually step foot into the Hilton Sydney Hotel that you get a feel for a certain extravagance.   As a busy professional in the big smoke for a few days, hopping from one meeting to the next, it was just as important for me to find the right hotel as it was to make th...

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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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IS PROPERTY A GOOD CHOICE?

IS PROPERTY A GOOD CHOICE?

UNCERTAINTY around superannuation in the lead up to the July federal election has people taking a flight to property investment as they look to escape the clutches of self-managed and institutionalised super funds. Choice Home Loans Varsity Lakes managing director Peter Gwynne says people were looking for certainty in an uncertain environ...

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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: 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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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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FUN IN THE WORKPLACE IS ESSENTIAL FOR SUCCESS

FUN IN THE WORKPLACE IS ESSENTIAL FOR SUCCESS

ENCOURAGING fun and play in the workplace is essential for today's business to be successful, according to Australian team building and corporate culture expert Dwain Richardson. Richardson, who has dedicated his career to bringing fun and games into businesses across Australia, says a fun workplace culture has many and varied benefit...

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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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SICKIES MORE PREVALENT AFTER AUSTRALIA DAY

SICKIES MORE PREVALENT AFTER AUSTRALIA DAY

IT appears Aussies celebrate Australia Day with more gusto than other national events, with recent data revealing that sickies are most common the day after 26 January. The survey of more than 2000 Australians by Clipp - an Australian mobile-payment and deals app for bars, pubs and restaurants, suggests that 16 per cent of Aussies have ch...

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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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GOLD COAST MUST DRIVE 'IDEAS BOOM'

GOLD COAST MUST DRIVE 'IDEAS BOOM'

AFTER just 24 hours it's hard to measure the impact of yesterday's much-anticipated innovation policy statement on launching Australia's "ideas boom". However, one thing we can be certain of is that the Gold Coast is already leading the way in creating a more vibrant and dynamic community through our hard-working, ri...

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