Successful businesses are not built solely on the strength of their products or services but on the capabilities of their people. Developing staff is an investment that pays significant dividends and is crucial for success. So, how can you capitalise on this? Enhancing Skills and Competencies: One of the most evident benefits of staff development…
Have you ever wondered about the origin story of your business? What drove you to start it in the first place? It’s a question that often gets overshadowed by the day-to-day hustle and bustle of entrepreneurship. Many entrepreneurs set out on their journey to build a better future, pursue a passion, or gain financial independence.…
There are a lot of stereotypes that are often attributed to the different generations, which can be harmful to their employment prospects. For example, Generation Z (Gen Z) is often considered the ‘problem children of business’ due to their ‘sensitivity, wokeness and apparent refusal to perform beyond what they are paid for’. However, perceptions can…
Company culture has become an important part of how businesses are perceived. Businesses with a positive culture are more likely to attract clients and customers. Statistics also show that over 50% of executives believe that having a good culture can influence productivity, creativity, profitability, firm value and growth rates. However, while describing and quantifying a…
You’ve found the perfect business for you to buy. It fits all your requirements and you’re in a position where you can comfortably buy the business. What’s next? Before you sign the contract to finalise the buy, it is important to conduct due diligence. You should review the financial records, business operations and legal documents…
In Australia, the Pty Ltd Company (proprietary limited company) is one of the most popular business structures chosen by entrepreneurs and business owners. Pty Ltd companies offer both distinct advantages and certain disadvantages that individuals should carefully consider when determining the most suitable structure for their enterprise. Benefits of a Pty Ltd Company: Limited Liability:…
Hiring and retaining top talent is crucial for long-term success. However, the journey doesn’t end once you hire the right candidate. Effective employee onboarding ensures your new hires integrate seamlessly into your organisation, become productive team members, and stay engaged. Let’s explore the critical components of onboarding new employees effectively. Preparing in Advance Effective onboarding…
Feel like your business is stuck in a rut? Are you unable to solve a problem that you know will cost you in the long run? Struggling to navigate your way through a difficult time? It might not be financially tanking, and it might not be that your revenue stream is down; however, if you’re…
Whether you want to change careers or are ready to start a new journey, passing on your business can be more appealing than shutting it down altogether. Having a succession plan you can follow with the new owner could help the process run more smoothly and avoid confusion. When developing your plan, it is vital…
Making your business seem more significant than it actually is can go a long way in helping you secure larger clients. Appearing larger can help customers feel more secure when dealing with you and possibly give your voice or presence more authority. Exaggerating elements of your business regarding first impressions is easier than you might…