You Need Meat And Gravy
These days, for most businesses, it’s all about recurring revenue. A lot of Real estate agents aim to fund their basic operating expenses from “Rent Roll”, commission on property management. Property sales are money on top. A lot of recruitment agencies aim to pay the bills with fees from ongoing temp placements. PR, marketing and […]
Are You An Industry Player, Or A Market Player?
Guest Post by Raz Chorez In over a decade of consulting, I’ve learned to take nothing for granted. I don’t assume as much as I used to, and I try my best to listen to every new client as if they are my first, and I know nothing about their company, industry or market. However, time […]
Are You Bundling Services?
These days smart firms are forming their service offerings into bundled products that better align with and meet client needs. Once upon a time you sold products or services, or maybe both, but professional services were seen as different. There was a fair bit of snobbery involved in this as well. Things are changing and […]
How To Manage Margins In Professional Services
To manage your firm, you need to know the most important ratios. Utilisation is by far the most important for most, but the amount of time recorded on timesheets shouldn’t automatically be billed to clients. Often it is, but sometimes adjustments need to be made at the time of billing to take certain factors into […]
Are You Eligible For A Small Business Grant?
The NSW government is giving small businesses in NSW a grant of $2000 if they employ new full-time, part-time and casual workers in NSW. To be eligible, the business needs to: Have an active Australian Business Number (ABN) Be exempt from the payroll tax for a financial year In addition, the employment of the person must: Fill […]
How Will Automation Effect Your Business?
Remember when cruise control was just on flash cars? When a Mercedes stunt to demonstrate automatic emergency braking went terribly wrong and the car failed to stop and instead hit the car in front of it? You have to feel for the people involved. They genuinely wanted the car to be safer. The thing is, […]
Reduce Risk During Rough Times
Humans have an innate tendency to take more risks when we are under pressure. Put what’s left on a horse race, kick a ball from far away, that sort of thing. We all love the dramatic stories of when it works out against all odds. But against all odds says it all. Running a business […]
Your Time Sheet Needs To Add Up To A Whole Day
This is for all the people that use timesheets. There is an old accounting saying that if something is out by only one cent it could be out a thousand dollars one way and a thousand dollars the other. Accountants are taught to always balance to the cent. And you should adopt this principle for […]
Can All This Technological Disruption Work In Your Favour?
All those trend setters, not following traditional business models, have the opportunity to build a modern, agile and flexible businesses unimpeded by their past – but they also face more risk, and even if you are doing these in traditional ways there’s still time to change the road you’re on (thanks Led Zeppelin). This is […]
You Own The Profit
Happy New Year all. I hope you had a great holiday if you managed one. Fresh for a new year and, like most people, with eyes on goals for the year I thought about why people take so many risks to run a business. The simple and obvious answer, and therefore probably wrong, is that […]