(02) 9299 1555
Whether your business sells to people or to other businesses, whether you sell a product or a service, finding new leads is always vital. More leads - the people or businesses interested in you - means a bigger market to sell to.
Because of this, many successful small business owners continuously look to expand their customer base and grow their businesses by lead generation. Lead generation is a term you hear a lot. Simply, it is the process of attracting and converting strangers to your business into people who indicate interest in the product and/or service you offer. Read more…
Business is ticking along nicely for you. Key performance indicators have been decided. Your markers are being met. Growth is steady. Employees are content. But did you know you could be doing even better? How? Benchmarking.
Benchmarking is the process of measuring the performance of your products, your services or your processes against those of other businesses. The concept reflects the idea that performance measurements (including those useful KPIs) mean very little in and of themselves. To become meaningful, they need a basis of comparison. You can't just look at numbers in isolation; rather, they need to be compared to - that is, benchmarked against - an objective standard or reference point. Read more…
One of the first things you learn in business school is the SWOT analysis. It's an incredibly simple, yet still powerful, tool to help you develop your business strategy. It is surprisingly effective whether you're building a startup or guiding an existing company. And one of the things about a SWOT analysis, is how straightforward it is.
It has been found that 60 percent of Australian businesses fail within their first three years. There are many factors at work in this, but the human factor always plays a significant role. Maybe the wrong person was hired for the job or maybe a proper company culture wasn't properly established.
Out of the range of reasons why businesses fail, mismanagement of people is both one of the biggest and one of the most avoidable. And one of the first major mismanagement potholes you risk falling into is ineffective rostering.
Managing time: it's a core component of a successful business. Whether you need to manage - or track - your own time as a small business owner, or accurately record the hours worked by your staff and contractors, the best way is via an app.
While the terms 'clocking in' and 'clocking out' are outdated and few businesses still use punch cards, the concept and process of tracking hours is just as relevant. But why is it needed? Simply put, as the old saw goes, time is money.
Inventory is a key concept at the heart of any business: it's what you, as a business owner, use to make money. In simple terms, inventory refers to all the items, goods, merchandise and materials held at hand for the on-selling stage that generates your cash flow.
As a major asset for any manufacturing or trading business, it's important for business owners to understand what inventory is really about and why it's so important to keep track of it.
Retail outlets, restaurants and other fast-paced B2C enterprises share the common business trait of receiving many payments over the course of a day. Sometimes big amounts, sometimes small, but always a high transaction volume and always worth tracking.
Using a point of sale system, or POS, is the way to do this effectively. A POS is the platform by which your customer makes a payment for your product or service. Simply put, every time a customer makes a purchase at your store, they're completing a 'point of sale' transaction.
Do you want your business to be known as a modern and environmentally friendly organisation? Are you still printing out copious sheets of paper … and filing … and storing … and reprinting when needed? If so, there is a better way.
There has been a lot of talk about Self-Managed Super Funds in recent years. You will have noticed there has been mixed media coverage about whether SMSFs are a good choice for managing the average person's superannuation.
Remember Walkmans? And later, portable CD music players? And VHS video players? And fax machines?
These were all once considered the very latest in technology but are now obsolete.
Times sure change.
