A Smooth Sea Never Made A Skilled Sailor
One of my clients is talking about putting a new hire on hold because of the Sydney lockdown, not the only one I imagine. Yet more uncertainty for those of you running a business. It was Franklin D. Roosevelt who said “A smooth sea never made a skilled sailor” and uncertainty was something he had a bit […]
Too Many People In Accounts?
Everyone always talks about the rent, perhaps because it’s a big percentage for individual households, but for most office based businesses it’s usually about 5% of sales. The biggest costs are always related to providing service to your clients, around 60% of sales is common. 20% can be spent on getting new clients. The rest, […]
If It Ain’t Broke Don’t Fix It – And Other Rules of Thumb
In a previous blog I asked you to think about what sort of car your business was, I imagine you didn’t say horse and cart but, still, there is much to be said for not changing things unless you have a good reason. Changing things takes up your time and money and usually involves risk. […]
Margins Are King Makers – Cash is the Consequence
The origin of “cash is king” is not clear. It was used in 1988, after the global stock market crash in 1987, by Pehr G. Gyllenhammar, who at the time was Chief Executive Officer of Swedish car group Volvo. Wikipedia We have all heard it before, revenue is vanity, profit is sanity but cash is […]
The Future Is Always Uncertain
Your management reports need to be an accurate insight into the performance and health of your business but they also need to be forward looking. Just the thought of that can be exhausting, but there are some things you can do to make yourself feel more comfortable with forecasting. Everything hangs off your sales […]
What Sort Of Car Is Your Business?
Even if you are bored by cars this is a great question marketing people ask to find out how a brand is perceived by stakeholders. Car manufacturers have always been brilliant at establishing strong brand values and perceived product attributes. Check out the movie Crazy People with the famous line “Volvo – they’re boxy but they’re good”. […]
You Need Belts and Braces When You Stop Eating Pies
If you want your business to be lean and mean make sure it’s pants don’t fall down. You have probably heard the old saying that you should cut fat not muscle when you reduce costs but often cutting things can bring unintended consequences. When you set up simpler processes you need to consider reliability. What […]
How To Cross The Business Desert
A shout out to our mates on the other side of this desert country. Hopefully we get to see you all soon. I first heard the term business desert used by Dent Global. It’s a great way to think about what you might have to endure if you want to your business to grow really […]
Your Business Shell Should Grow With You
When your business is just starting out it can grow fast in different ways. If you are used to working for a company some things might catch you out. There are some great books about this, including The E-Myth, but there are also: Some simple steps you can take to reduce your growing pains Employ staff […]
Bakers and Candlestick Makers Are All Niche These Days
There is a vegan butcher in Newtown Sydney. I love that. For a while now retail has been splitting between cheap bulk chain stores and small niche stores that provide better quality goods and service. Trying to be small and cheap is asking for trouble. B2B has been going through the same changes but it […]